Cargojet (TSE:CJT) Price Target Lowered to C$115.00 at Scotiabank

Cargojet (TSE:CJT) had its price target reduced by Scotiabank from C$118.00 to C$115.00 in a research note released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. National Bank Financial boosted their price objective on shares of Cargojet from C$95.00 to C$108.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. BMO Capital Markets boosted their price objective on shares of Cargojet from C$90.00 to C$94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 26th. Raymond James Financial boosted their price objective on shares of Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, Desjardins boosted their price objective on shares of Cargojet from C$117.00 to C$126.00 in a research report on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$125.73.

Cargojet Stock Down 3.0%

Shares of Cargojet stock opened at C$81.27 on Thursday. Cargojet has a 52-week low of C$65.60 and a 52-week high of C$113.89. The company has a 50 day moving average of C$89.46 and a 200 day moving average of C$85.73. The company has a quick ratio of 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 155.48. The company has a market capitalization of C$1.21 billion, a P/E ratio of 15.51 and a beta of 0.86.

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

Cargojet Increases Dividend

The company also recently disclosed 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 of this dividend was Friday, March 20th. This represents a $1.54 annualized dividend and a yield of 1.9%. This is an increase from Cargojet’s previous quarterly dividend of $0.35. Cargojet’s dividend payout ratio is presently 26.72%.

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.