Cargojet Inc. (TSE:CJT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Cargojet has a consensus analyst rating of "Moderate Buy", based on coverage from 11 analysts, with 10 buy ratings and one hold. The average 12-month target price is C$124.17.
• Several brokers recently trimmed their price targets on the stock, including BMO Capital Markets, TD, RBC, and Scotiabank, though most kept positive ratings such as outperform or buy-equivalent views.
• Cargojet reported quarterly EPS of C$0.60 on revenue of C$254.7 million, and it recently paid a quarterly dividend of C$0.385 per share, which annualizes to a 1.8% yield.

Cargojet Inc. (TSE:CJT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$124.17.

A number of analysts have recently weighed in on CJT shares. BMO Capital Markets dropped their price target on Cargojet from C$94.00 to C$85.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 6th. TD reduced their price objective on Cargojet from C$124.00 to C$118.00 in a research report on Wednesday, July 15th. Royal Bank Of Canada lowered their price objective on Cargojet from C$143.00 to C$140.00 and set an "outperform" rating for the company in a research note on Monday, April 13th. Scotiabank dropped their target price on Cargojet from C$118.00 to C$115.00 and set an "outperform" rating on the stock in a research report on Thursday, April 9th. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd.

Cargojet Price Performance

Shares of TSE:CJT opened at C$85.47 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 123.57. Cargojet has a fifty-two week low of C$65.60 and a fifty-two week high of C$105.26. The firm has a 50-day simple moving average of C$84.37 and a 200 day simple moving average of C$86.47. The company has a market cap of C$1.28 billion, a PE ratio of 34.89 and a beta of 1.02.

Cargojet (TSE:CJT - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported C$0.60 earnings per share (EPS) for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. The firm had revenue of C$254.70 million for the quarter. On average, sell-side analysts anticipate that Cargojet will post 5.890933 EPS for the current year.

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, July 6th were paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 19th. Cargojet's payout ratio is presently 58.57%.

About Cargojet

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.

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