Cargojet Inc. (TSE:CJT) Announces $0.35 Quarterly Dividend

Key Points

• Cargojet Inc. has announced a quarterly dividend of $0.35 per share, payable on October 3rd to stockholders of record as of September 19th, representing a 1.4% dividend yield.
• The company’s stock was trading at C$99.39 with a market capitalization of C$1.50 billion and a PE ratio of 11.02.
• Cargojet operates a domestic and international air cargo co-load network, servicing 'sixteen major Canadian cities' and various other international routes.

Cargojet Inc. (TSE:CJT - Get Free Report) declared a quarterly dividend on Tuesday, September 16th, RTT News reports. Stockholders of record on Friday, September 19th will be given a dividend of 0.35 per share on Friday, October 3rd. This represents a c) annualized dividend and a dividend yield of 1.4%.

Cargojet Stock Down 0.0%

TSE:CJT traded down C$0.02 during trading hours on Friday, hitting C$98.68. The company's stock had a trading volume of 136,944 shares, compared to its average volume of 83,846. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. Cargojet has a 52-week low of C$69.60 and a 52-week high of C$144.97. The stock has a fifty day moving average of C$101.07 and a 200-day moving average of C$93.27. The stock has a market capitalization of C$1.49 billion, a P/E ratio of 10.94 and a beta of 1.26.

Wall Street Analyst Weigh In

CJT has been the subject of a number of research reports. ATB Capital reduced their price target on shares of Cargojet from C$155.00 to C$145.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Raymond James Financial set a C$132.00 price target on Cargojet and gave the stock an "outperform" rating in a research note on Friday, September 5th. Stifel Nicolaus boosted their price objective on Cargojet from C$125.00 to C$130.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Scotiabank increased their price objective on Cargojet from C$138.00 to C$140.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, TD Securities lifted their target price on shares of Cargojet from C$150.00 to C$160.00 and gave the company a "buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to data from MarketBeat, Cargojet has a consensus rating of "Buy" and an average price target of C$146.77.

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.