Cargojet (TSE:CJT) Price Target Lowered to C$170.00 at Scotiabank

Cargojet (TSE:CJT) had its price target decreased by Scotiabank from C$174.00 to C$170.00 in a research report released on Thursday,BayStreet.CA reports.

A number of other research analysts also recently issued reports on CJT. ATB Capital cut their price target on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. TD Securities cut their price target on Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Canaccord Genuity Group raised their price objective on Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. CIBC raised their price objective on Cargojet from C$172.00 to C$177.00 in a research report on Wednesday, December 4th. Finally, National Bankshares lowered their price objective on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cargojet has an average rating of “Moderate Buy” and an average target price of C$160.50.

Cargojet Trading Down 2.5 %

CJT opened at C$123.75 on Thursday. The stock’s fifty day moving average is C$114.60 and its two-hundred day moving average is C$125.09. The company has a market capitalization of C$2.00 billion, a P/E ratio of -130.26 and a beta of 0.91. Cargojet has a 52 week low of C$100.01 and a 52 week high of C$144.97. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Monday, November 4th. The company reported C$1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.14 by C$0.34. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. During the same period in the prior year, the firm posted $0.30 EPS. Analysts forecast that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.13%. Cargojet’s dividend payout ratio is currently -147.37%.

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.