Scotiabank Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price target lowered by Scotiabank from C$140.00 to C$135.00 in a research report released on Friday,BayStreet.CA reports.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus raised their target price on Cargojet from C$125.00 to C$130.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. TD Securities boosted their price objective on Cargojet from C$150.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Acumen Capital reduced their price objective on Cargojet from C$175.00 to C$170.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Raymond James Financial set a C$132.00 target price on Cargojet and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Stifel Canada raised shares of Cargojet to a “strong-buy” rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$146.57.

Cargojet Stock Performance

Shares of CJT opened at C$93.45 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. The firm’s fifty day simple moving average is C$99.47 and its two-hundred day simple moving average is C$93.80. Cargojet has a 12 month low of C$69.60 and a 12 month high of C$144.97. The stock has a market capitalization of C$1.41 billion, a P/E ratio of 10.36 and a beta of 0.99.

Cargojet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.5%. Cargojet’s dividend payout ratio is 15.52%.

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.