Cormark Has Positive Forecast for Cargojet FY2024 Earnings

Cargojet Inc. (TSE:CJT) – Investment analysts at Cormark increased their FY2024 earnings per share (EPS) estimates for Cargojet in a research note issued on Wednesday, November 6th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $5.13 per share for the year, up from their prior forecast of $4.54. The consensus estimate for Cargojet’s current full-year earnings is $5.89 per share. Cormark also issued estimates for Cargojet’s Q4 2025 earnings at $2.00 EPS.

A number of other equities research analysts have also recently commented on the company. TD Securities decreased their price objective on Cargojet from C$176.00 to C$167.00 in a research note on Wednesday. ATB Capital decreased their target price on Cargojet from C$165.00 to C$155.00 in a research note on Wednesday. National Bankshares boosted their target price on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group boosted their target price on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday. Finally, Acumen Capital boosted their target price on Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$159.00.

Cargojet Stock Up 3.7 %

Shares of Cargojet stock opened at C$137.05 on Friday. 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 has a 12 month low of C$82.22 and a 12 month high of C$144.97. The business has a fifty day simple moving average of C$133.73 and a 200 day simple moving average of C$127.21. The stock has a market cap of C$2.21 billion, a PE ratio of -144.26 and a beta of 0.91.

Cargojet (TSE:CJT) last announced its quarterly earnings data 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). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The company had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were given a dividend of $0.35 per share. This is a boost from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, September 20th. Cargojet’s dividend payout ratio is currently -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.