Scotiabank Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its target price reduced by analysts at Scotiabank from C$174.00 to C$170.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 35.95% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group upped their price objective on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. TD Securities cut their price objective on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. ATB Capital cut their price objective on shares of Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. CIBC upped their price objective on shares of Cargojet from C$172.00 to C$177.00 in a report on Wednesday, December 4th. Finally, National Bankshares cut their price objective on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cargojet has an average rating of “Moderate Buy” and an average price target of C$160.50.

Cargojet Trading Down 1.5 %

Shares of TSE CJT traded down C$1.89 during midday trading on Thursday, hitting C$125.05. 13,216 shares of the company traded hands, compared to its average volume of 80,372. Cargojet has a 12-month low of C$100.01 and a 12-month high of C$144.97. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The stock has a 50-day moving average price of C$114.58 and a 200 day moving average price of C$125.17. The firm has a market cap of C$2.02 billion, a P/E ratio of -131.63 and a beta of 0.91.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Monday, November 4th. The company reported C$1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.14 by C$0.34. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. During the same quarter in the previous year, the company earned $0.30 EPS. As a group, analysts expect that Cargojet will post 5.890933 earnings per share for the current year.

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.