FY2018 EPS Estimates for Cargojet Inc (TSE:CJT) Increased by Analyst

Cargojet Inc (TSE:CJT) – Research analysts at National Bank Financial lifted their FY2018 earnings per share (EPS) estimates for Cargojet in a research report issued on Tuesday. National Bank Financial analyst U. Allem now forecasts that the company will earn $2.85 per share for the year, up from their previous forecast of $2.31. National Bank Financial currently has a “Sector Perform” rating and a $53.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. CIBC boosted their target price on Cargojet from C$55.00 to C$56.00 in a research report on Wednesday. Raymond James Financial, Inc. dropped their price objective on Cargojet from C$57.00 to C$55.00 and set an “outperform” rating for the company in a report on Tuesday, May 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Cargojet currently has an average rating of “Buy” and an average target price of C$55.40.

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Cargojet (CJT) traded up 1.30% during mid-day trading on Friday, hitting $48.31. The stock had a trading volume of 18,693 shares. The stock’s 50-day moving average price is $48.13 and its 200-day moving average price is $46.76. Cargojet has a 12 month low of $34.10 and a 12 month high of $52.56. The stock has a market cap of $531.41 million and a price-to-earnings ratio of 455.75.

In related news, insider Paul David Rinaldo sold 5,903 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of C$46.75, for a total transaction of C$275,965.25.

About Cargojet

Cargojet Inc is a provider of time sensitive overnight air cargo services. The Company’s cargo business comprises operating a domestic overnight air cargo co-load network between over 10 Canadian cities; providing aircraft to customers on an aircraft, crew, maintenance and insurance (ACMI) basis, operating between points in Canada, the United States and Europe; operating scheduled international routes for multiple cargo customers between the United States and Bermuda, and between Canada and Europe, and providing dedicated aircraft to customers on an adhoc charter basis operating between points in Canada, the United States and other international destinations.

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