Cargojet Inc. (TSE:CJT) Plans Dividend Increase – $0.39 Per Share

Cargojet Inc. (TSE:CJT) announced a quarterly dividend on Friday, March 20th, TickerTech Dividends reports. Investors of record on Thursday, April 2nd will be given a dividend of 0.385 per share on Thursday, April 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, March 20th. This is a 10.0% increase from Cargojet’s previous quarterly dividend of $0.35.

Cargojet Trading Up 0.2%

Shares of CJT stock opened at C$86.94 on Wednesday. The business’s fifty day moving average price is C$92.73 and its 200 day moving average price is C$87.67. Cargojet has a 1-year low of C$65.60 and a 1-year high of C$113.89. The firm has a market capitalization of C$1.30 billion, a PE ratio of 16.59 and a beta of 0.70. The company has a debt-to-equity ratio of 155.48, a current ratio of 1.23 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last released its quarterly earnings data on Tuesday, February 24th. The company reported C$1.47 earnings per share (EPS) for the quarter. The firm had revenue of C$284.70 million during the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%. As a group, sell-side analysts forecast that Cargojet will post 5.890933 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Cargojet from C$106.00 to C$116.00 in a report on Thursday, February 26th. BMO Capital Markets boosted their price objective on shares of Cargojet from C$90.00 to C$94.00 and gave the stock a “market perform” rating in a report on Thursday, February 26th. Raymond James Financial upped their target price on shares of Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Stifel Nicolaus increased their target price on shares of Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Desjardins lifted their price target on shares of Cargojet from C$117.00 to C$126.00 in a research report on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cargojet currently has a consensus rating of “Moderate Buy” and a consensus price target of C$125.45.

Cargojet Company Profile

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.