Cargojet (TSE:CJT) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Cargojet Inc. (TSE:CJT)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$128.12 and traded as high as C$130.23. Cargojet shares last traded at C$128.00, with a volume of 94,390 shares.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. National Bankshares raised their target price on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. ATB Capital lowered their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. TD Securities reduced their target price on Cargojet from C$176.00 to C$167.00 in a report on Wednesday, November 6th. Acumen Capital lifted their price target on Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group upped their price objective on Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$159.00.

Cargojet Stock Down 2.2 %

The firm has a 50-day simple moving average of C$134.13 and a 200 day simple moving average of C$128.12. The stock has a market capitalization of C$2.07 billion, a P/E ratio of -134.74 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. The business had revenue of C$230.80 million during the quarter, compared to the consensus estimate of C$239.77 million. On average, equities research analysts forecast that Cargojet Inc. will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.09%. This is an increase from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s dividend payout ratio (DPR) is presently -147.37%.

Cargojet Company Profile

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.