Cargojet (TSE:CJT) Announces Quarterly Earnings Results

Cargojet (TSE:CJT) released its quarterly earnings results on Tuesday. The company reported C$1.47 EPS for the quarter, FiscalAI reports. Cargojet had a return on equity of 0.31% and a net margin of 0.25%.The business had revenue of C$284.70 million during the quarter.

Cargojet Stock Performance

Shares of Cargojet stock traded down C$2.34 on Tuesday, reaching C$91.19. 96,838 shares of the company traded hands, compared to its average volume of 109,237. Cargojet has a 52 week low of C$65.60 and a 52 week high of C$113.89. The company has a 50 day moving average of C$90.45 and a 200 day moving average of C$88.96. The firm has a market capitalization of C$1.38 billion, a PE ratio of 11.59 and a beta of 0.82. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79.

Cargojet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, January 5th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, December 19th. Cargojet’s payout ratio is presently 17.79%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CJT shares. Raymond James Financial upped their target price on shares of Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Desjardins upped their price objective on shares of Cargojet from C$117.00 to C$118.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Scotiabank increased their price objective on shares of Cargojet from C$105.00 to C$115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. TD Securities dropped their target price on shares of Cargojet from C$160.00 to C$120.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada reduced their target price on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating for the company in a report on Monday, December 22nd. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Cargojet currently has an average rating of “Buy” and an average price target of C$124.18.

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.