Cargojet Inc. (TSE:CJT – Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$124.10 and traded as high as C$138.94. Cargojet shares last traded at C$137.69, with a volume of 32,103 shares changing hands.
Analysts Set New Price Targets
Several brokerages have weighed in on CJT. Scotiabank downgraded Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. ATB Capital upped their price objective on shares of Cargojet from C$160.00 to C$165.00 in a research report on Thursday, August 15th. Acumen Capital lifted their target price on shares of Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Canaccord Genuity Group boosted their price target on shares of Cargojet from C$150.00 to C$156.00 in a research note on Wednesday, July 24th. Finally, TD Securities raised their target price on Cargojet from C$173.00 to C$176.00 in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$159.55.
Check Out Our Latest Research Report on CJT
Cargojet Stock Up 2.7 %
Cargojet (TSE:CJT – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). The business had revenue of C$230.80 million during the quarter, compared to analysts’ expectations of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. On average, equities analysts expect that Cargojet Inc. will post 5.890933 earnings per share for the current fiscal year.
Cargojet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. Cargojet’s dividend payout ratio is -147.37%.
Cargojet Company Profile
Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.
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