Cargojet Q3 EPS Lowered by National Bank Financial

Cargojet Inc. (TSE:CJT) – Investment analysts at National Bank Financial cut their Q3 2024 earnings per share (EPS) estimates for shares of Cargojet in a research note issued on Wednesday, October 16th. National Bank Financial analyst C. Doerksen now forecasts that the company will post earnings per share of $1.02 for the quarter, down from their previous forecast of $1.05. The consensus estimate for Cargojet’s current full-year earnings is $5.89 per share. National Bank Financial also issued estimates for Cargojet’s FY2024 earnings at $4.55 EPS.

A number of other research firms also recently commented on CJT. ATB Capital raised their target price on shares of Cargojet from C$160.00 to C$165.00 in a research report on Thursday, August 15th. TD Securities boosted their price objective on shares of Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th. Cormark upped their target price on Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. Canaccord Genuity Group lifted their price target on Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price target on Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$159.91.

Cargojet Price Performance

CJT stock opened at C$138.75 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The stock has a market cap of C$2.24 billion, a PE ratio of -146.05 and a beta of 0.91. The company has a 50-day moving average price of C$129.58 and a 200 day moving average price of C$124.69. Cargojet has a 12 month low of C$76.50 and a 12 month high of C$143.64.

Cargojet (TSE:CJT) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate of C$1.10 by C($1.15). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The company had revenue of C$230.80 million during the quarter, compared to analysts’ expectations of C$239.77 million.

Cargojet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were given a dividend of $0.35 per share. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, September 20th. Cargojet’s dividend payout ratio is currently -147.37%.

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.