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

Key Points

• Analysts remain broadly positive on Cargojet: Ten of eleven brokerages rate the stock a buy, giving it a consensus “Moderate Buy” recommendation and an average 12-month price target of C$120.92.
• Several firms recently raised their price targets, including Desjardins to C$135, Scotiabank to C$125, and TD to C$127, while maintaining positive ratings.
• Cargojet reported quarterly revenue of C$275.8 million and earnings of C$0.47 per share. The company also pays a quarterly dividend of $0.385 per share, equivalent to a 1.9% annual yield.

Shares of Cargojet Inc. (TSE:CJT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$120.92.

A number of research firms have commented on CJT. Desjardins lifted their target price on shares of Cargojet from C$126.00 to C$135.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Scotiabank raised their price target on Cargojet from C$120.00 to C$125.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, August 12th. TD lifted their price objective on Cargojet from C$118.00 to C$127.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. BMO Capital Markets upped their price objective on Cargojet from C$85.00 to C$90.00 in a research report on Wednesday, August 12th. Finally, National Bank Financial increased their target price on Cargojet from C$109.00 to C$112.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th.

Cargojet Stock Performance

Shares of TSE CJT opened at C$80.22 on Friday. The firm's 50-day moving average price is C$85.44 and its 200-day moving average price is C$84.47. Cargojet has a 52-week low of C$65.60 and a 52-week high of C$100.94. The company has a market cap of C$1.19 billion, a PE ratio of 25.96 and a beta of 1.03. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 119.27.

Cargojet (TSE:CJT - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported C$0.47 earnings per share for the quarter. The firm had revenue of C$275.80 million during the quarter. Cargojet had a net margin of 4.49% and a return on equity of 6.30%. As a group, analysts anticipate that Cargojet will post 5.890933 EPS for the current year.

Cargojet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, July 6th were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Friday, June 19th. This represents a $1.54 annualized dividend and a dividend yield of 1.9%. Cargojet's dividend payout ratio is presently 47.57%.

Cargojet Company Profile

Cargojet is Canada's leading provider of time-sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.

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