Cargojet (TSE:CJT) Price Target Raised to C$122.00

Cargojet (TSE:CJT) had its target price upped by Canadian Imperial Bank of Commerce from C$116.00 to C$122.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

A number of other equities analysts also recently commented on the company. Desjardins lifted their target price on Cargojet from C$117.00 to C$126.00 in a research note on Thursday, February 26th. BMO Capital Markets raised their price target on Cargojet from C$90.00 to C$94.00 and gave the stock a “market perform” rating in a report on Thursday, February 26th. Raymond James Financial boosted their price objective on Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Stifel Nicolaus upped their price objective on Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada dropped their target price on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating on the stock in a research report on Monday, December 22nd. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$126.00.

Cargojet Stock Performance

Cargojet stock opened at C$82.76 on Thursday. Cargojet has a 1 year low of C$65.60 and a 1 year high of C$113.89. The firm’s 50-day moving average is C$90.38 and its 200-day moving average is C$86.09. The company has a debt-to-equity ratio of 155.48, a quick ratio of 0.79 and a current ratio of 1.23. The company has a market cap of C$1.23 billion, a P/E ratio of 15.79 and a beta of 0.70.

Cargojet (TSE:CJT) last announced its quarterly earnings data on Tuesday, February 24th. The company reported C$1.47 earnings per share for the quarter. The business had revenue of C$284.70 million during the quarter. Cargojet had a net margin of 8.08% and a return on equity of 10.73%. On average, equities analysts expect that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were paid a $0.385 dividend. The ex-dividend date was Friday, March 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a dividend yield of 1.9%. Cargojet’s dividend payout ratio (DPR) is 26.72%.

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.