Cargojet (TSE:CJT) Hits New 12-Month Low – Here’s What Happened

Cargojet Inc. (TSE:CJT) hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$99.14 and last traded at C$100.50, with a volume of 21854 shares changing hands. The stock had previously closed at C$101.34.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CJT shares. Scotiabank cut their price target on shares of Cargojet from C$170.00 to C$165.00 in a report on Wednesday, February 19th. Canaccord Genuity Group boosted their target price on Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. Cormark dropped their price target on Cargojet from C$140.00 to C$120.00 in a report on Wednesday, February 19th. Canaccord Genuity Group boosted their price objective on Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. Finally, CIBC lowered their target price on Cargojet from C$177.00 to C$163.00 in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$158.45.

Cargojet Price Performance

The firm has a market cap of C$1.62 billion, a P/E ratio of 710.23 and a beta of 0.91. The business has a fifty day moving average of C$112.39 and a 200 day moving average of C$122.64. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 20th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.38%. Cargojet’s payout ratio is currently 982.53%.

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.