TD Securities Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price target trimmed by TD Securities from C$176.00 to C$167.00 in a report published on Wednesday,BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. National Bankshares boosted their price target on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Acumen Capital upped their price target on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Scotiabank cut Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Cormark boosted their price objective on Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. Finally, Canaccord Genuity Group raised their target price on shares of Cargojet from C$156.00 to C$160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$159.00.

Cargojet Price Performance

CJT stock opened at C$138.00 on Wednesday. The business’s fifty day moving average price is C$133.91 and its 200 day moving average price is C$127.51. Cargojet has a 12-month low of C$82.22 and a 12-month high of C$144.97. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The company has a market capitalization of C$2.23 billion, a PE ratio of -145.26 and a beta of 0.91.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. On average, sell-side analysts anticipate that Cargojet will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were given a $0.35 dividend. The ex-dividend date was Friday, September 20th. This is a boost from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. Cargojet’s payout ratio is -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.