Cargojet (TSE:CJT) Given New C$170.00 Price Target at Scotiabank

Cargojet (TSE:CJT) had its price objective trimmed by Scotiabank from C$174.00 to C$170.00 in a report issued on Thursday morning,BayStreet.CA reports.

Several other research firms have also recently issued reports on CJT. National Bankshares cut their target price on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research report on Thursday. Canaccord Genuity Group increased their target price on Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. TD Securities cut their target price on Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. CIBC increased their target price on Cargojet from C$172.00 to C$177.00 in a research report on Wednesday, December 4th. Finally, ATB Capital dropped their price target on Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$160.50.

Cargojet Stock Performance

Shares of CJT opened at C$123.75 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84. The business has a 50-day simple moving average of C$114.60 and a two-hundred day simple moving average of C$125.09. The stock has a market cap of C$2.00 billion, a price-to-earnings ratio of -130.26 and a beta of 0.91. Cargojet has a 52 week low of C$100.01 and a 52 week high of C$144.97.

Cargojet (TSE:CJT) last released its earnings results on Monday, November 4th. The company reported C$1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.14 by C$0.34. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. During the same quarter in the previous year, the company earned $0.30 earnings per share. On average, analysts expect that Cargojet will post 5.890933 EPS for the current year.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, December 20th. Cargojet’s payout ratio is -147.37%.

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.