Cargojet (TSE:CJT) Sets New 52-Week Low – Time to Sell?

Cargojet Inc. (TSE:CJT) shares reached a new 52-week low on Monday . The stock traded as low as C$99.14 and last traded at C$100.50, with a volume of 21854 shares changing hands. The stock had previously closed at C$101.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. National Bankshares cut their price objective on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada increased their price target on Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. Cormark decreased their price objective on Cargojet from C$140.00 to C$120.00 in a report on Wednesday, February 19th. ATB Capital lowered their target price on shares of Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Finally, CIBC lowered their price objective on Cargojet from C$177.00 to C$163.00 in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$158.45.

Cargojet Stock Up 0.5 %

The company has a market capitalization of C$1.63 billion, a PE ratio of 714.51 and a beta of 0.91. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The stock has a 50-day moving average of C$112.62 and a 200 day moving average of C$122.90.

Cargojet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 20th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. Cargojet’s dividend payout ratio (DPR) is presently 982.53%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.