Cargojet (TSE:CJT) Reaches New 12-Month Low – Here’s Why

Cargojet Inc. (TSE:CJT) shares hit a new 52-week low on Thursday . The company traded as low as C$103.97 and last traded at C$104.40, with a volume of 12243 shares changing hands. The stock had previously closed at C$106.20.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CJT shares. TD Securities reduced their price target on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a report on Thursday, November 21st. CIBC increased their target price on Cargojet from C$172.00 to C$177.00 in a report on Wednesday, December 4th. ATB Capital cut their price target on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. National Bankshares upped their price objective on Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group lifted their target price on Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$159.27.

Cargojet Stock Down 4.9 %

The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84. The firm has a fifty day moving average of C$127.06 and a 200-day moving average of C$127.67. The firm has a market cap of C$1.63 billion, a P/E ratio of -106.36 and a beta of 0.91.

Cargojet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, December 20th. 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.