Cargojet (TSE:CJT) Posts Earnings Results

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

Cargojet Stock Down 2.8%

CJT traded down C$2.17 during trading on Monday, reaching C$75.45. 85,643 shares of the stock were exchanged, compared to its average volume of 102,822. The stock has a market cap of C$1.12 billion, a P/E ratio of 14.40 and a beta of 0.86. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$113.89. The stock’s 50 day moving average price is C$84.96 and its two-hundred day moving average price is C$84.49. 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 Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CJT. Scotiabank lowered their price objective on shares of Cargojet from C$118.00 to C$115.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. BMO Capital Markets lifted their price objective on shares of Cargojet from C$90.00 to C$94.00 and gave the company a “market perform” rating in a report on Thursday, February 26th. Royal Bank Of Canada lowered their price objective on shares of Cargojet from C$143.00 to C$140.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd. Finally, National Bank Financial lowered their price objective on shares of Cargojet from C$108.00 to C$104.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Cargojet presently has an average rating of “Moderate Buy” and a consensus 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.