Cargojet (TSE:CJT) Reaches New 1-Year High – Should You Buy?

by · The Markets Daily

Shares of Cargojet Inc. (TSE:CJT – Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$142.88 and last traded at C$140.48, with a volume of 67214 shares. The stock had previously closed at C$136.09.

Analyst Ratings Changes

Several brokerages have issued reports on CJT. Cormark lifted their price target on Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. ATB Capital lifted their price objective on Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. National Bankshares boosted their price target on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. TD Securities boosted their price target on Cargojet from C$173.00 to C$176.00 in a report on Thursday, August 15th. Finally, Scotiabank downgraded Cargojet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$160.27.

Check Out Our Latest Research Report on Cargojet

Cargojet Price Performance

The firm has a market capitalization of C$2.25 billion, a P/E ratio of -146.52 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The firm has a 50-day moving average of C$132.91 and a 200-day moving average of C$126.35.

Cargojet (TSE:CJT – Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The business had revenue of C$230.80 million during the quarter, compared to the consensus estimate of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. As a group, analysts predict that Cargojet Inc. will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 20th. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. Cargojet’s payout ratio is currently -147.37%.

Cargojet Company Profile

(Get Free Report)

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.

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