Cargojet (TSE:CJT) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Cargojet Inc. (TSE:CJT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$85.73 and traded as high as C$86.35. Cargojet shares last traded at C$85.20, with a volume of 174,618 shares.

Wall Street Analyst Weigh In

CJT has been the topic of several analyst reports. Acumen Capital upped their price objective on Cargojet from C$115.00 to C$120.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. BMO Capital Markets raised their target price on Cargojet from C$85.00 to C$90.00 in a research report on Wednesday, August 12th. ATB Cormark Capital Markets boosted their price target on Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. TD increased their price objective on Cargojet from C$118.00 to C$127.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Scotiabank increased their price objective on Cargojet from C$120.00 to C$125.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, August 12th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$120.92.

Cargojet Trading Up 1.3%

The company’s fifty day moving average price is C$85.98 and its two-hundred day moving average price is C$85.64. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 119.27. The company has a market cap of C$1.26 billion, a price-to-earnings ratio of 27.51 and a beta of 1.02.

Cargojet (TSE:CJT) last released its quarterly earnings results on Monday, August 10th. The company reported C$0.47 earnings per share for the quarter. The firm had revenue of C$275.80 million during the quarter. Cargojet had a return on equity of 6.30% and a net margin of 4.49%. Research analysts expect that Cargojet Inc. will post 5.890933 earnings per share for the current year.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, July 6th were issued a dividend of $0.385 per share. The ex-dividend date of this dividend was Friday, June 19th. This represents a $1.54 dividend on an annualized basis and a yield of 1.8%. Cargojet’s dividend payout ratio is currently 47.57%.

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.