Cargojet Inc. (TSE:CJT) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Cargojet Inc. has received a consensus recommendation of "Buy" from ten brokerages, with an average 12-month target price of C$146.77.
• The company recently announced a quarterly dividend of $0.35 per share, resulting in an annualized dividend yield of 1.5%.
• Cargojet's market capitalization stands at C$1.40 billion, with a current stock price of C$92.60 following a decrease of 3.8% in trading.

Cargojet Inc. (TSE:CJT - Get Free Report) has been assigned an average rating of "Buy" from the ten brokerages that are covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$146.77.

CJT has been the subject of a number of analyst reports. ATB Capital reduced their price target on 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. Scotiabank upped their price target on shares of Cargojet from C$138.00 to C$140.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Acumen Capital decreased their target price on shares of Cargojet from C$175.00 to C$170.00 and set a "buy" rating for the company in a research note on Monday, August 11th. TD Securities raised their price target 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. Finally, Raymond James Financial set a C$132.00 price objective on Cargojet and gave the stock an "outperform" rating in a research note on Friday, September 5th.

Cargojet Trading Down 3.8%

TSE:CJT opened at C$92.60 on Friday. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The business has a 50 day simple moving average of C$100.38 and a 200 day simple moving average of C$93.51. The firm has a market capitalization of C$1.40 billion, a P/E ratio of 10.27 and a beta of 1.26. Cargojet has a 12-month low of C$69.60 and a 12-month high of C$144.97.

Cargojet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. Cargojet's payout ratio is presently 15.52%.

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.

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