Canaccord Genuity Group Raises Cargojet (TSE:CJT) Price Target to C$148.00

Cargojet (TSE:CJT) had its target price lifted by Canaccord Genuity Group from C$145.00 to C$148.00 in a research note released on Wednesday morning, BayStreet.CA reports.

A number of other research analysts have also recently commented on the stock. TD Securities reduced their price target on shares of Cargojet from C$170.00 to C$155.00 and set a buy rating on the stock in a research report on Tuesday, January 16th. ATB Capital increased their price target on shares of Cargojet from C$155.00 to C$160.00 and gave the company an outperform rating in a research report on Tuesday, February 27th. Cormark reduced their price target on shares of Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. BMO Capital Markets increased their price target on shares of Cargojet from C$110.00 to C$115.00 and gave the company a market perform rating in a research report on Tuesday, February 27th. Finally, Laurentian upgraded shares of Cargojet from a hold rating to a buy rating and increased their price target for the company from C$102.00 to C$150.00 in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of C$148.18.

Cargojet Trading Down 1.5 %

Shares of CJT opened at C$115.59 on Wednesday. The business’s 50-day moving average price is C$112.28 and its 200-day moving average price is C$107.49. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$124.94. The stock has a market cap of C$1.95 billion, a PE ratio of 53.02 and a beta of 1.03. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 101.87.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Monday, February 26th. The company reported C($0.14) earnings per share for the quarter, missing the consensus estimate of C$0.88 by C($1.02). The company had revenue of C$221.90 million during the quarter, compared to the consensus estimate of C$250.58 million. Cargojet had a return on equity of 4.62% and a net margin of 4.25%. On average, equities analysts forecast that Cargojet will post 3.6871632 EPS for the current fiscal year.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.315 per share. The ex-dividend date was Tuesday, March 19th. This is an increase from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 annualized dividend and a dividend yield of 1.09%. Cargojet’s dividend payout ratio (DPR) is presently 57.80%.

About Cargojet

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.