Cargojet Inc. (TSE:CJT) Forecasted to Post Q2 2024 Earnings of $0.81 Per Share

Cargojet Inc. (TSE:CJT) – Investment analysts at National Bank Financial issued their Q2 2024 earnings per share (EPS) estimates for Cargojet in a research note issued on Monday, April 29th. National Bank Financial analyst C. Doerksen expects that the company will post earnings of $0.81 per share for the quarter. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share.

A number of other equities research analysts have also recently weighed in on the company. Laurentian upgraded Cargojet from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$102.00 to C$150.00 in a research note on Tuesday, January 16th. ATB Capital upped their price target on Cargojet from C$155.00 to C$160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. National Bankshares upped their price target on Cargojet from C$129.00 to C$132.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Acumen Capital upped their price objective on Cargojet from C$160.00 to C$165.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Scotiabank upped their price objective on Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$148.91.

Cargojet Price Performance

Shares of TSE CJT opened at C$123.00 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 101.87. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$125.44. The stock has a 50 day moving average of C$112.35 and a two-hundred day moving average of C$108.15. The stock has a market cap of C$2.08 billion, a P/E ratio of 56.42 and a beta of 1.03.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Monday, February 26th. The company reported C($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). Cargojet had a net margin of 4.25% and a return on equity of 4.62%. The firm had revenue of C$221.90 million during the quarter, compared to analysts’ expectations of C$250.58 million.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were issued a $0.315 dividend. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $1.26 annualized dividend and a yield of 1.02%. Cargojet’s dividend payout ratio is 57.80%.

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.