Cargojet (TSE:CJT – Free Report) had its price objective boosted by Canaccord Genuity Group from C$145.00 to C$148.00 in a research note released on Wednesday, BayStreet.CA reports.
A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada cut their price objective on Cargojet from C$187.00 to C$184.00 and set an outperform rating on the stock in a research report on Tuesday, January 16th. BMO Capital Markets lifted their price objective on Cargojet from C$110.00 to C$115.00 and gave the stock a market perform rating in a research report on Tuesday, February 27th. TD Securities cut their price objective on Cargojet from C$170.00 to C$155.00 and set a buy rating on the stock in a research report on Tuesday, January 16th. Acumen Capital lifted their price objective on Cargojet from C$160.00 to C$165.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Finally, Cormark cut their price objective on Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cargojet has an average rating of Moderate Buy and a consensus target price of C$148.18.
View Our Latest Stock Analysis on CJT
Cargojet Price Performance
Cargojet (TSE:CJT – Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.88 by C($1.02). Cargojet had a return on equity of 4.62% and a net margin of 4.25%. The company had revenue of C$221.90 million for the quarter, compared to the consensus estimate of C$250.58 million. As a group, analysts predict that Cargojet will post 3.6871632 earnings per share for the current year.
Cargojet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 20th were given a dividend of $0.315 per share. The ex-dividend date was Tuesday, March 19th. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 annualized dividend and a dividend yield of 1.09%. Cargojet’s payout ratio is currently 57.80%.
About Cargojet
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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