Cargojet Inc. (TSE:CJT) to Issue Dividend Increase – $0.39 Per Share

Cargojet Inc. (TSE:CJT) announced a quarterly dividend on Friday, March 20th, TickerTech Dividends reports. Shareholders of record on Thursday, April 2nd will be paid a dividend of 0.385 per share on Thursday, April 2nd. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, March 20th. This is a 10.0% increase from Cargojet’s previous quarterly dividend of $0.35.

Cargojet Price Performance

CJT stock opened at C$86.94 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.79 and a debt-to-equity ratio of 155.48. The company has a market capitalization of C$1.30 billion, a P/E ratio of 16.59 and a beta of 0.70. The business has a 50 day simple moving average of C$92.73 and a 200-day simple moving average of C$87.67. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$113.89.

Cargojet (TSE:CJT) last announced its earnings results on Tuesday, February 24th. The company reported C$1.47 EPS for the quarter. Cargojet had a net margin of 8.08% and a return on equity of 10.73%. The business had revenue of C$284.70 million for the quarter. As a group, equities analysts anticipate that Cargojet will post 5.890933 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CJT. Royal Bank Of Canada dropped their price objective on shares of Cargojet from C$151.00 to C$143.00 and set an “outperform” rating on the stock in a research note on Monday, December 22nd. Canadian Imperial Bank of Commerce boosted their price target on Cargojet from C$106.00 to C$116.00 in a research report on Thursday, February 26th. Stifel Nicolaus upped their price objective on Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Desjardins lifted their target price on Cargojet from C$117.00 to C$126.00 in a research note on Thursday, February 26th. Finally, Raymond James Financial boosted their target price on Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$125.45.

Cargojet Company Profile

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.