National Bank Financial Weighs in on Cargojet Inc.’s FY2024 Earnings (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Stock analysts at National Bank Financial raised their FY2024 earnings per share estimates for Cargojet in a report issued on Monday, April 29th. National Bank Financial analyst C. Doerksen now expects that the company will post earnings of $4.92 per share for the year, up from their prior estimate of $3.51. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. National Bank Financial also issued estimates for Cargojet’s FY2025 earnings at $4.91 EPS.

Cargojet (TSE:CJT) last posted its earnings results on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). Cargojet had a net margin of 4.25% and a return on equity of 4.62%. The business had revenue of C$221.90 million during the quarter, compared to analyst estimates of C$250.58 million.

Other research analysts have also recently issued reports about the company. Scotiabank upped their price objective on Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Acumen Capital upped their price objective on Cargojet from C$160.00 to C$165.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Cormark dropped their price objective on Cargojet from C$121.00 to C$120.00 in a research note on Tuesday, February 27th. Royal Bank of Canada dropped their price objective on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, National Bankshares increased their target price on Cargojet from C$129.00 to C$132.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$148.91.

Cargojet Stock Down 4.8 %

CJT stock opened at C$117.08 on Thursday. The company has a debt-to-equity ratio of 101.87, a current ratio of 1.49 and a quick ratio of 0.79. The stock has a market capitalization of C$1.98 billion, a P/E ratio of 53.71 and a beta of 1.03. The business has a 50-day moving average of C$112.32 and a 200-day moving average of C$108.21. Cargojet has a fifty-two week low of C$76.50 and a fifty-two week high of C$125.44.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 20th were given a dividend of $0.315 per share. The ex-dividend date was Tuesday, March 19th. This represents a $1.26 dividend on an annualized basis and a yield of 1.08%. This is an increase from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s dividend payout ratio is currently 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.