Cargojet Inc. (TSE:CJT) Stock Has Consensus Target Price of C$121.00

Key Points

• Analyst sentiment is positive: Cargojet has a “Moderate Buy” consensus from 11 analysts, with 10 buy ratings and one hold. The average 12-month price target is C$121.00, well above the stock’s C$85.81 opening price.
• Recent broker targets range from C$112.00 to C$135.00, with firms including Scotiabank, TD, Desjardins and ATB Cormark maintaining positive or outperform ratings.
• Cargojet reported quarterly revenue of C$275.80 million and EPS of C$0.67, while paying a quarterly dividend of $0.385 per share. The annualized dividend is $1.54, representing a 1.8% yield and a 47.57% payout ratio.

Shares of Cargojet Inc. (TSE:CJT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$121.00.

Several equities analysts have issued reports on CJT shares. Scotiabank upped their price objective on shares of Cargojet from C$120.00 to C$125.00 and gave the company a "sector outperform" rating in a research note on Wednesday, August 12th. TD set a C$128.00 target price on shares of Cargojet and gave the company a "buy" rating in a research report on Friday, October 2nd. Desjardins upped their price target on shares of Cargojet from C$126.00 to C$135.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. ATB Cormark Capital Markets upped their price target on shares of Cargojet from C$110.00 to C$120.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Finally, National Bank Financial set a C$112.00 price target on Cargojet and gave the stock an "outperform" rating in a research report on Friday, October 2nd.

Cargojet Price Performance

Cargojet stock opened at C$85.81 on Monday. The firm has a market capitalization of C$1.27 billion, a P/E ratio of 27.77 and a beta of 0.91. The company has a debt-to-equity ratio of 119.27, a current ratio of 0.83 and a quick ratio of 0.79. The business has a fifty day moving average price of C$84.56 and a 200-day moving average price of C$86.05. Cargojet has a one year low of C$65.60 and a one year high of C$100.87.

Cargojet (TSE:CJT - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported C$0.67 earnings per share (EPS) for the quarter. Cargojet had a return on equity of 6.30% and a net margin of 4.49%. The firm had revenue of C$275.80 million during the quarter. As a group, equities research analysts forecast that Cargojet will post 5.89 EPS for the current year.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, October 5th were given a dividend of $0.3850 per share. The ex-dividend date of this dividend was Friday, September 18th. This represents a $1.54 annualized dividend and a yield of 1.8%. 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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