Cargojet (TSE:CJT) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Cargojet Inc. (TSE:CJT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$128.01 and traded as low as C$109.97. Cargojet shares last traded at C$111.60, with a volume of 89,520 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CJT shares. 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 research note on Thursday, October 17th. ATB Capital reduced their target price on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. TD Securities lowered their price target on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Canaccord Genuity Group lifted their target price on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. Finally, CIBC upped their price target on Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$159.27.

Cargojet Price Performance

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 market capitalization of C$1.76 billion, a price-to-earnings ratio of -117.47 and a beta of 0.91. The company has a 50-day moving average of C$128.69 and a 200-day moving average of C$127.95.

Cargojet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, January 3rd will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of ∞. The ex-dividend date of this dividend is Friday, December 20th. Cargojet’s payout ratio is presently -147.37%.

Cargojet Company Profile

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.