Cargojet (TSE:CJT) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Cargojet Inc. (TSE:CJT) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$82.90 and traded as high as C$87.49. Cargojet shares last traded at C$86.93, with a volume of 99,463 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canadian Imperial Bank of Commerce lifted their target price on shares of Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. National Bank Financial upped their target price on Cargojet from C$104.00 to C$108.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. TD increased their price target on Cargojet from C$120.00 to C$124.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada dropped their price target on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Finally, BMO Capital Markets cut their price objective on Cargojet from C$94.00 to C$85.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cargojet presently has a consensus rating of “Moderate Buy” and an average target price of C$124.58.

Cargojet Price Performance

The firm has a market capitalization of C$1.32 billion, a PE ratio of 36.02 and a beta of 1.02. The company has a debt-to-equity ratio of 123.57, a quick ratio of 0.79 and a current ratio of 0.91. The business’s 50 day moving average is C$83.24 and its two-hundred day moving average is C$86.36.

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

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, July 6th were issued a dividend of $0.385 per share. The ex-dividend date of this dividend was Friday, June 19th. This represents a $1.54 dividend on an annualized basis and a yield of 1.7%. Cargojet’s dividend payout ratio is 58.57%.

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.