Cargojet (TSE:CJT) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Cargojet Inc. (TSE:CJT) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$124.10 and traded as high as C$138.94. Cargojet shares last traded at C$137.69, with a volume of 32,103 shares traded.

Analyst Ratings Changes

Several equities analysts have recently commented on CJT shares. Royal Bank of Canada upped their price objective on shares of Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. ATB Capital lifted their price objective on Cargojet from C$160.00 to C$165.00 in a research note on Thursday, August 15th. CIBC increased their target price on Cargojet from C$159.00 to C$172.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Cormark boosted their price target on shares of Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group increased their price objective on Cargojet from C$150.00 to C$156.00 in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$159.55.

Cargojet Stock Up 2.7 %

The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The firm’s 50-day moving average price is C$128.61 and its two-hundred day moving average price is C$124.20. The firm has a market cap of C$2.22 billion, a PE ratio of -144.94 and a beta of 0.91.

Cargojet (TSE:CJT) last released its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.10 by C($1.15). Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. The company had revenue of C$230.80 million during the quarter, compared to analyst estimates of C$239.77 million. As a group, equities research analysts expect that Cargojet Inc. will post 5.890933 EPS for the current fiscal year.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were paid a $0.35 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. This is a boost from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s payout ratio is currently -147.37%.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.