Cargojet Inc. (TSE:CJT) Given Consensus Rating of “Buy” by Brokerages

Cargojet Inc. (TSE:CJT) has been given an average rating of “Buy” by the eight brokerages that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$158.90.

A number of analysts have commented on the company. Canaccord Genuity Group boosted their price objective on Cargojet from C$165.00 to C$173.00 in a report on Wednesday, February 19th. National Bankshares lowered their price target on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. CIBC cut their price objective on shares of Cargojet from C$163.00 to C$150.00 in a report on Thursday. Royal Bank of Canada increased their target price on shares of Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. Finally, Cormark cut their price target on shares of Cargojet from C$140.00 to C$120.00 in a report on Wednesday, February 19th.

Cargojet Stock Up 2.5 %

Shares of TSE CJT opened at C$76.99 on Friday. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. Cargojet has a 1 year low of C$69.60 and a 1 year high of C$144.97. The stock has a market capitalization of C$1.23 billion, a P/E ratio of 540.32 and a beta of 0.91. The company has a 50-day moving average price of C$92.42 and a 200-day moving average price of C$112.86.

Cargojet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, April 4th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.82%. The ex-dividend date was Thursday, March 20th. Cargojet’s dividend payout ratio (DPR) is 982.53%.

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.