Cargojet (TSE:CJT) Releases Quarterly Earnings Results

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

Cargojet Stock Performance

Shares of CJT opened at C$98.62 on Thursday. The stock has a market capitalization of C$1.46 billion, a PE ratio of 31.92 and a beta of 0.72. The business’s fifty day moving average price is C$86.27 and its 200 day moving average price is C$86.19. The company has a debt-to-equity ratio of 119.27, a current ratio of 0.83 and a quick ratio of 0.79. Cargojet has a 12-month low of C$69.05 and a 12-month high of C$100.87.

Cargojet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Monday, October 5th were issued a $0.3850 dividend. This represents a $1.54 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 18th. Cargojet’s payout ratio is currently 47.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Scotiabank increased their target price on Cargojet from C$120.00 to C$125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 12th. BMO Capital Markets boosted their price target on Cargojet from C$85.00 to C$90.00 in a research report on Wednesday, August 12th. TD set a C$128.00 price target on Cargojet and gave the stock a “buy” rating in a report on Friday, October 2nd. Desjardins increased their price objective on shares of Cargojet from C$126.00 to C$135.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, ATB Cormark Capital Markets lifted their price objective on shares of Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$121.09.

About Cargojet

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.