Cargojet (TSE:CJT) Price Target Lowered to C$85.00 at BMO Capital Markets

Cargojet (TSE:CJT) had its price target decreased by BMO Capital Markets from C$94.00 to C$85.00 in a report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets currently has a market perform rating on the stock.

Other research analysts also recently issued reports about the company. Raymond James Financial raised their price objective on Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Stifel Nicolaus increased their price target on Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada cut their price target on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Canadian Imperial Bank of Commerce lifted their price objective on Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd. Finally, Desjardins upped their price objective on shares of Cargojet from C$117.00 to C$126.00 in a research note on Thursday, February 26th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$124.58.

Cargojet Price Performance

Cargojet stock opened at C$82.10 on Wednesday. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79. The stock has a market cap of C$1.22 billion, a price-to-earnings ratio of 15.67 and a beta of 0.87. The firm has a 50-day moving average of C$84.32 and a two-hundred day moving average of C$84.45. Cargojet has a 1 year low of C$65.60 and a 1 year high of C$113.89.

Cargojet (TSE:CJT) last issued its earnings results on Monday, May 4th. The company reported C$0.60 EPS for the quarter. The business had revenue of C$254.70 million for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. On average, research analysts forecast that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Friday, March 20th. This is a positive change from Cargojet’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a dividend yield of 1.9%. Cargojet’s payout ratio is currently 26.72%.

Cargojet Company Profile

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.