Cargojet Inc. (TSE:CJT) Forecasted to Post Q3 2024 Earnings of $0.93 Per Share

Cargojet Inc. (TSE:CJT) – Cormark raised their Q3 2024 earnings per share (EPS) estimates for Cargojet in a research report issued to clients and investors on Tuesday, April 30th. Cormark analyst D. Ocampo now expects that the company will post earnings per share of $0.93 for the quarter, up from their previous estimate of $0.71. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Cormark also issued estimates for Cargojet’s FY2024 earnings at $4.90 EPS, Q3 2025 earnings at $1.00 EPS and FY2025 earnings at $4.12 EPS.

A number of other research analysts have also recently issued reports on CJT. Laurentian upgraded shares of Cargojet from a “hold” rating to a “buy” rating and lifted their target price for the company from C$102.00 to C$150.00 in a research note on Tuesday, January 16th. ATB Capital boosted their price target on shares of Cargojet from C$155.00 to C$160.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. TD Securities upped their target price on shares of Cargojet from C$157.00 to C$162.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. BMO Capital Markets upped their target price on shares of Cargojet from C$110.00 to C$115.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 27th. Finally, National Bankshares boosted their price target on shares of Cargojet from C$129.00 to C$132.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cargojet presently has an average rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Stock Up 1.1 %

TSE CJT opened at C$120.02 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 101.87. The stock’s 50 day moving average is C$112.36 and its two-hundred day moving average is C$108.66. The company has a market capitalization of C$2.02 billion, a price-to-earnings ratio of 55.06 and a beta of 1.03. Cargojet has a 1-year low of C$76.50 and a 1-year high of C$125.44.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.88 by C($1.02). The business had revenue of C$221.90 million during the quarter, compared to analyst estimates of C$250.58 million. Cargojet had a net margin of 4.25% and a return on equity of 4.62%.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 1.05%. This is an increase from Cargojet’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, March 19th. Cargojet’s dividend payout ratio is presently 57.80%.

About Cargojet

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.