Cargojet (TSE:CJT) Reaches New 52-Week High – What’s Next?

Shares of Cargojet Inc. (TSE:CJT) reached a new 52-week high on Friday . The stock traded as high as C$142.88 and last traded at C$140.48, with a volume of 67214 shares trading hands. The stock had previously closed at C$136.09.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Cargojet from C$156.00 to C$160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. ATB Capital lifted their price objective on shares of Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Royal Bank of Canada upped their target price on Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Cormark lifted their price target on Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. Finally, TD Securities upped their price objective on Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cargojet currently has a consensus rating of “Moderate Buy” and an average target price of C$160.27.

Cargojet Stock Up 1.5 %

The company’s 50-day moving average is C$133.17 and its 200 day moving average is C$126.54. The stock has a market capitalization of C$2.23 billion, a PE ratio of -145.34 and a beta of 0.91. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The company had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. As a group, analysts anticipate that Cargojet Inc. will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, September 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s 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.