Cargojet (TSE:CJT) Hits New 1-Year Low – What’s Next?

Cargojet Inc. (TSE:CJT) hit a new 52-week low during trading on Thursday . The company traded as low as C$103.97 and last traded at C$104.40, with a volume of 12243 shares changing hands. The stock had previously closed at C$106.20.

Analyst Upgrades and Downgrades

CJT has been the subject of a number of research analyst reports. CIBC boosted their target price on shares of Cargojet from C$172.00 to C$177.00 in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their target price on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. National Bankshares lifted their price target on Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. ATB Capital reduced their price objective on Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. Finally, TD Securities lowered their price objective on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$159.27.

Cargojet Stock Down 4.9 %

The firm has a 50 day moving average price of C$127.06 and a 200-day moving average price of C$127.67. The firm has a market cap of C$1.63 billion, a price-to-earnings ratio of -106.36 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79.

Cargojet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. Cargojet’s dividend payout ratio (DPR) is presently -147.37%.

About Cargojet

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.