Cargojet (TSE:CJT) Releases Quarterly Earnings Results

Cargojet (TSE:CJT) posted its earnings results on Monday. The company reported C$0.47 EPS for the quarter, FiscalAI reports. The business had revenue of C$275.80 million during the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%.

Cargojet Stock Up 8.6%

TSE CJT opened at C$93.67 on Wednesday. The stock’s 50 day simple moving average is C$84.71 and its 200 day simple moving average is C$86.21. Cargojet has a one year low of C$65.60 and a one year high of C$105.26. The firm has a market cap of C$1.40 billion, a PE ratio of 38.23 and a beta of 1.02. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79.

Cargojet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, July 6th were given a dividend of $0.385 per share. The ex-dividend date was Friday, June 19th. This represents a $1.54 dividend on an annualized basis and a yield of 1.6%. Cargojet’s dividend payout ratio is 58.57%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. National Bank Financial increased their price objective on Cargojet from C$108.00 to C$109.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. TD reduced their target price on shares of Cargojet from C$124.00 to C$118.00 in a research note on Wednesday, July 15th. Finally, BMO Capital Markets lowered their target price 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. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$117.50.

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.