Cargojet (TSE:CJT) Releases Earnings Results

Cargojet (TSE:CJT) released its earnings results on Monday. The company reported C$0.60 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$254.70 million during the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%.

Cargojet Price Performance

Cargojet stock opened at C$77.70 on Wednesday. The company has a debt-to-equity ratio of 155.48, a quick ratio of 0.79 and a current ratio of 1.23. Cargojet has a 52 week low of C$65.60 and a 52 week high of C$113.89. The stock has a market capitalization of C$1.16 billion, a P/E ratio of 14.83 and a beta of 0.87. The stock has a fifty day moving average of C$84.55 and a 200-day moving average of C$84.45.

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a dividend of $0.385 per share. This is an increase from Cargojet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.0%. Cargojet’s payout ratio is presently 26.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CJT. National Bank Financial cut their target price on Cargojet from C$108.00 to C$104.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Raymond James Financial upped their target price on Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. BMO Capital Markets upped their target price on Cargojet from C$90.00 to C$94.00 and gave the company a “market perform” rating in a research report on Thursday, February 26th. Scotiabank cut their target price on Cargojet from C$118.00 to C$115.00 and set an “outperform” rating for the company in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada cut their target price on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$125.09.

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.