Cargojet (TSE:CJT) Price Target Raised to C$120.00

Cargojet (TSE:CJT) had its price target hoisted by Acumen Capital from C$115.00 to C$120.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. National Bank Financial lifted their target price on shares of Cargojet from C$108.00 to C$109.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Desjardins increased their price target on Cargojet from C$126.00 to C$135.00 and gave the stock a “buy” rating in a research note on Wednesday. ATB Cormark Capital Markets raised their price target on Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets raised their price target on Cargojet from C$85.00 to C$90.00 in a report on Wednesday. Finally, TD boosted their price objective on Cargojet from C$118.00 to C$127.00 and gave the company a “buy” rating in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Cargojet currently has an average rating of “Moderate Buy” and a consensus target price of C$120.92.

Cargojet Price Performance

Shares of TSE:CJT opened at C$89.26 on Wednesday. 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 1-year low of C$65.60 and a 1-year high of C$104.60. The company has a market capitalization of C$1.33 billion, a P/E ratio of 36.43 and a beta of 1.02. The firm’s 50 day simple moving average is C$85.26 and its two-hundred day simple moving average is C$86.21.

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

Cargojet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, July 6th were given a dividend of $0.385 per share. The ex-dividend date was Friday, June 19th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.7%. Cargojet’s dividend payout ratio is currently 58.57%.

About Cargojet

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.