Cargojet (TSE:CJT) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Cargojet Inc. (TSE:CJT) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$128.12 and traded as high as C$130.23. Cargojet shares last traded at C$128.00, with a volume of 94,390 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CJT shares. TD Securities decreased their price objective on Cargojet from C$176.00 to C$167.00 in a research report on Wednesday, November 6th. Canaccord Genuity Group upped their price target on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. Cormark raised their price objective on shares of Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. ATB Capital reduced their target price on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Finally, Acumen Capital lifted their price target on Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$159.00.

Cargojet Stock Down 2.2 %

The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The firm has a fifty day simple moving average of C$134.13 and a 200-day simple moving average of C$128.12. The firm has a market cap of C$2.07 billion, a price-to-earnings ratio of -134.74 and a beta of 0.91.

Cargojet (TSE:CJT) last posted its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (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. As a group, sell-side analysts expect that Cargojet Inc. will post 5.890933 EPS for the current 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 given a $0.35 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.09%. Cargojet’s dividend payout ratio is presently -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.