Cormark Comments on Cargojet Inc.’s Q2 2024 Earnings (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Equities research analysts at Cormark lifted their Q2 2024 earnings per share (EPS) estimates for Cargojet in a report released on Tuesday, April 30th. Cormark analyst D. Ocampo now forecasts that the company will earn $0.87 per share for the quarter, up from their prior forecast 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 Q4 2024 earnings at $1.24 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.92 EPS, Q4 2025 earnings at $1.33 EPS and FY2026 earnings at $4.33 EPS.

Several other equities analysts have also commented on CJT. ATB Capital increased their target price 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. Canaccord Genuity Group lifted their price objective on Cargojet from C$145.00 to C$148.00 in a report on Wednesday, April 24th. Scotiabank increased their target price on Cargojet from C$142.00 to C$145.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. TD Securities lifted their price target on Cargojet from C$157.00 to C$162.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, National Bankshares upped their price target on shares of Cargojet from C$129.00 to C$132.00 and gave the company a “sector perform” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Cargojet presently has an average rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Trading Up 1.1 %

CJT stock opened at C$120.02 on Thursday. The company has a market capitalization of C$2.02 billion, a PE ratio of 55.06 and a beta of 1.03. The company has a debt-to-equity ratio of 101.87, a quick ratio of 0.79 and a current ratio of 1.49. Cargojet has a one year low of C$76.50 and a one year high of C$125.44. The company’s 50 day moving average price is C$112.36 and its two-hundred day moving average price is C$108.51.

Cargojet (TSE:CJT) last announced its quarterly earnings data on Monday, February 26th. The company reported C($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). The firm had revenue of C$221.90 million for the quarter, compared to analysts’ expectations 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 business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 20th were paid a $0.315 dividend. This is a boost from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, March 19th. Cargojet’s dividend payout ratio is currently 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.