Cormark Has Positive Forecast for Cargojet FY2024 Earnings

Cargojet Inc. (TSE:CJT) – Research analysts at Cormark raised their FY2024 earnings per share (EPS) estimates for shares of Cargojet in a note issued to investors on Wednesday, November 6th. Cormark analyst D. Ocampo now expects that the company will earn $5.13 per share for the year, up from their previous forecast of $4.54. The consensus estimate for Cargojet’s current full-year earnings is $5.89 per share. Cormark also issued estimates for Cargojet’s Q4 2025 earnings at $2.00 EPS.

CJT has been the subject of several other research reports. Canaccord Genuity Group upped their price target on Cargojet from C$160.00 to C$165.00 in a report on Wednesday. National Bankshares upped their price target on 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 cut their price target on Cargojet from C$165.00 to C$155.00 in a report on Wednesday. TD Securities cut their price target on Cargojet from C$176.00 to C$167.00 in a report on Wednesday. Finally, Acumen Capital increased their target price on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$159.00.

Cargojet Price Performance

Shares of TSE:CJT opened at C$137.05 on Friday. The business has a 50 day moving average price of C$133.73 and a 200 day moving average price of C$127.21. Cargojet has a twelve month low of C$82.22 and a twelve month high of C$144.97. The company has a market cap of C$2.21 billion, a price-to-earnings ratio of -144.26 and a beta of 0.91. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84.

Cargojet (TSE:CJT) last announced its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of C$239.77 million.

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. This is a boost from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, September 20th. Cargojet’s dividend payout ratio (DPR) is currently -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.