Cargojet (TSE:CJT) Sets New 52-Week Low – Here’s What Happened

Cargojet Inc. (TSE:CJT)’s stock price hit a new 52-week low on Monday . The company traded as low as C$87.52 and last traded at C$87.75, with a volume of 13179 shares. The stock had previously closed at C$91.24.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CJT shares. National Bankshares decreased their price target on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. CIBC decreased their target price on Cargojet from C$177.00 to C$163.00 in a report on Wednesday, February 19th. Scotiabank reduced their target price on Cargojet from C$170.00 to C$165.00 in a report on Wednesday, February 19th. TD Securities dropped their price target on 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. Finally, Royal Bank of Canada boosted their price objective on Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$162.80.

Cargojet Stock Performance

The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The stock has a market cap of C$1.40 billion, a P/E ratio of 613.87 and a beta of 0.91. The firm’s 50-day moving average is C$110.90 and its two-hundred day moving average is C$121.22.

Cargojet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.60%. Cargojet’s dividend payout ratio is currently 982.53%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.