Cargojet (TSE:CJT) Posts Earnings Results

Cargojet (TSE:CJT) announced its earnings results on Wednesday. The company reported C$1.21 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$286.50 million during the quarter. Cargojet had a return on equity of 6.30% and a net margin of 4.49%.

Cargojet Price Performance

Shares of TSE CJT opened at C$108.77 on Friday. The firm has a 50-day simple moving average of C$86.84 and a 200-day simple moving average of C$86.27. 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 stock has a market capitalization of C$1.61 billion, a price-to-earnings ratio of 35.20 and a beta of 0.72. Cargojet has a 52 week low of C$71.00 and a 52 week high of C$112.71.

Cargojet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, October 5th were given a $0.3850 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, September 18th. Cargojet’s dividend payout ratio is 47.57%.

Analysts Set New Price Targets

CJT has been the topic of a number of research analyst reports. Acumen Capital lifted their price target on shares of Cargojet from C$115.00 to C$120.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Scotiabank upped their price objective on shares of Cargojet from C$120.00 to C$125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, August 12th. TD set a C$128.00 price objective on shares of Cargojet and gave the stock a “buy” rating in a research report on Friday, October 2nd. BMO Capital Markets increased their price objective on shares of Cargojet from C$85.00 to C$90.00 in a report on Wednesday, August 12th. Finally, ATB Cormark Capital Markets lifted their target price on shares of Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cargojet presently has a consensus rating of “Moderate Buy” and an average target price of C$121.09.

More Cargojet News

Here’s some of the latest news about CJT:

• Positive Sentiment: Cargojet reported its highest-ever third-quarter revenue, totaling C$286.5 million. Net income rose to C$19.1 million from C$8.8 million a year earlier, and earnings were C$1.21 per share. Cargojet Reports Highest Ever Third Quarter Revenue
• Positive Sentiment: The company announced a share-buyback plan for up to 1.4 million shares, representing 9.51% of issued share capital. Repurchases could return capital to shareholders and reduce the share count, though the announcement does not mean all shares will necessarily be bought back. Cargojet Announces an Equity Buyback
• Positive Sentiment: Cargojet also said it is expanding its One Network, a move that could support its broader connectivity and growth strategy. Cargojet Expands One Network

Cargojet Company Profile

Cargojet is Canada’s leading provider of time-sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.