Scotiabank Cuts Cargojet (TSE:CJT) Price Target to C$170.00

Cargojet (TSE:CJT) had its price target trimmed by Scotiabank from C$174.00 to C$170.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group upped their target price on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. CIBC increased their price target on Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. ATB Capital dropped their price target on Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. TD Securities lowered their target price on Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, National Bankshares raised their target price on Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$160.50.

Cargojet Price Performance

Cargojet stock opened at C$123.10 on Monday. Cargojet has a 12 month low of C$100.01 and a 12 month high of C$144.97. The stock’s 50 day moving average is C$114.89 and its 200-day moving average is C$125.64. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The company has a market capitalization of C$1.99 billion, a price-to-earnings ratio of -129.58 and a beta of 0.91.

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

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were paid a $0.35 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.14%. Cargojet’s dividend payout ratio is presently -147.37%.

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.