Cargojet (TSE:CJT) Price Target Raised to C$108.00

Cargojet (TSE:CJT) had its target price boosted by National Bank Financial from C$104.00 to C$108.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Canadian Imperial Bank of Commerce upped their target price on Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. Stifel Nicolaus upped their target price on Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Desjardins upped their target price on Cargojet from C$117.00 to C$126.00 in a research report on Thursday, February 26th. Raymond James Financial upped their target price on Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, BMO Capital Markets upped their target price on Cargojet from C$90.00 to C$94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 26th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cargojet presently has a consensus rating of “Moderate Buy” and a consensus target price of C$124.58.

Cargojet Stock Performance

CJT opened at C$81.30 on Wednesday. The company has a market capitalization of C$1.21 billion, a price-to-earnings ratio of 33.18 and a beta of 0.87. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79. Cargojet has a 1-year low of C$65.60 and a 1-year high of C$113.89. The business has a 50 day moving average price of C$84.16 and a two-hundred day moving average price of C$84.46.

Cargojet (TSE:CJT) last released its earnings results on Monday, May 4th. The company reported C$0.60 earnings per share for the quarter. The firm had revenue of C$254.70 million during the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%. Research analysts predict that Cargojet will post 5.890933 EPS for the current fiscal year.

Cargojet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Friday, March 20th. This is a positive change from Cargojet’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a yield of 1.9%. Cargojet’s dividend payout ratio (DPR) is currently 58.57%.

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.