Cargojet (TSE:CJT) Announces Earnings Results

Cargojet (TSE:CJT) issued its quarterly earnings data on Monday. The company reported C$0.47 earnings per share for the quarter, FiscalAI reports. Cargojet had a return on equity of 4.92% and a net margin of 3.64%.The firm had revenue of C$275.80 million during the quarter.

Cargojet Stock Performance

TSE:CJT traded down C$0.55 during trading hours on Monday, reaching C$86.26. 86,959 shares of the stock were exchanged, compared to its average volume of 88,424. The stock has a market capitalization of C$1.29 billion, a P/E ratio of 35.21 and a beta of 1.02. The firm has a 50 day simple moving average of C$84.54 and a 200-day simple moving average of C$86.24. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 123.57. Cargojet has a 52 week low of C$65.60 and a 52 week high of C$105.26.

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, July 6th were issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 19th. Cargojet’s dividend payout ratio (DPR) is currently 58.57%.

Wall Street Analysts Forecast Growth

CJT has been the subject of several research analyst reports. National Bank Financial increased their target price on Cargojet from C$108.00 to C$109.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada dropped their price target on shares of Cargojet from C$143.00 to C$140.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. BMO Capital Markets cut their price target on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating on the stock in a report on Wednesday, May 6th. Finally, TD reduced their price objective on shares of Cargojet from C$124.00 to C$118.00 in a research note on Wednesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$122.27.

About Cargojet

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.