Q2 2024 EPS Estimates for Cargojet Inc. Increased by Atb Cap Markets (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Atb Cap Markets raised their Q2 2024 earnings estimates for Cargojet in a research note issued on Monday, April 29th. Atb Cap Markets analyst C. Murray now anticipates that the company will post earnings per share of $1.54 for the quarter, up from their prior forecast of $1.47. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Atb Cap Markets also issued estimates for Cargojet’s Q3 2024 earnings at $1.63 EPS, Q4 2024 earnings at $1.86 EPS, Q2 2025 earnings at $2.02 EPS, Q3 2025 earnings at $2.08 EPS and Q4 2025 earnings at $2.19 EPS.

Other equities analysts also recently issued research reports about the stock. ATB Capital increased 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. National Bankshares increased their target price 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. Royal Bank of Canada decreased their price target on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research note on Tuesday. TD Securities raised their price objective on Cargojet from C$157.00 to C$162.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Scotiabank boosted their target price on Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$148.91.

Cargojet Price Performance

Cargojet stock opened at C$117.08 on Wednesday. The company has a market cap of C$1.98 billion, a P/E ratio of 53.71 and a beta of 1.03. Cargojet has a one year low of C$76.50 and a one year high of C$125.44. The business has a fifty day moving average of C$112.32 and a two-hundred day moving average of C$108.21. 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 (TSE:CJT) last posted its quarterly earnings results on Monday, February 26th. The company reported C($0.14) EPS for the quarter, missing the consensus estimate of C$0.88 by C($1.02). Cargojet had a net margin of 4.25% and a return on equity of 4.62%. The business had revenue of C$221.90 million during the quarter, compared to analyst estimates of C$250.58 million.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Tuesday, March 19th. This is a boost from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s dividend payout ratio is 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.