Cargojet Inc. (TSE:CJT) to Issue Quarterly Dividend of $0.35

Cargojet Inc. (TSE:CJT - Get Free Report) announced a quarterly dividend on Wednesday, June 4th, RTT News reports. Shareholders of record on Friday, June 20th will be given a dividend of 0.35 per share on Friday, July 4th. This represents a $1.40 annualized dividend and a yield of 1.46%.

Cargojet Stock Performance

CJT traded up C$1.87 during trading on Friday, reaching C$96.07. 39,700 shares of the company's stock were exchanged, compared to its average volume of 94,421. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. Cargojet has a 1 year low of C$69.60 and a 1 year high of C$144.97. The company's fifty day simple moving average is C$85.28 and its 200-day simple moving average is C$100.09. The stock has a market capitalization of C$1.54 billion, a P/E ratio of 674.23 and a beta of 0.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CJT shares. Royal Bank of Canada lowered their price objective on Cargojet from C$183.00 to C$177.00 in a research report on Monday, April 28th. CIBC decreased their price objective on shares of Cargojet from C$163.00 to C$150.00 in a report on Thursday, April 10th. BMO Capital Markets cut their target price on shares of Cargojet from C$120.00 to C$95.00 in a research note on Tuesday, April 15th. Canaccord Genuity Group lifted their price objective on Cargojet from C$165.00 to C$173.00 in a report on Wednesday, February 19th. Finally, Scotiabank decreased their target price on Cargojet from C$165.00 to C$139.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$150.64.

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.