Research Analysts Issue Forecasts for Cargojet Inc.’s Q2 2024 Earnings (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Equities researchers at National Bank Financial issued their Q2 2024 EPS estimates for Cargojet in a research report issued to clients and investors on Monday, April 29th. National Bank Financial analyst C. Doerksen anticipates that the company will post earnings per share of $0.81 for the quarter. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share.

Cargojet (TSE:CJT) last released its quarterly earnings data on Monday, February 26th. The company reported C($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$221.90 million during the quarter, compared to the consensus estimate of C$250.58 million.

A number of other equities research analysts also recently weighed in on the stock. Acumen Capital raised their target price on shares of Cargojet from C$160.00 to C$165.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Canaccord Genuity Group raised their target price on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their target price on shares of Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research note on Tuesday. Scotiabank lifted their price target on shares of Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, National Bankshares lifted 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 note on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Cargojet has a consensus rating of “Moderate Buy” and an average target price of C$148.91.

Cargojet Price Performance

CJT stock opened at C$118.77 on Wednesday. The firm has a 50 day moving average of C$112.30 and a 200-day moving average of C$108.28. The firm has a market capitalization of C$2.00 billion, a P/E ratio of 54.48 and a beta of 1.03. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 101.87. Cargojet has a 12 month low of C$76.50 and a 12 month high of C$125.44.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 20th were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 1.06%. This is an increase from Cargojet’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, March 19th. Cargojet’s payout ratio is presently 57.80%.

Cargojet Company Profile

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.