Cargojet (TSE:CJT) Sets New 52-Week Low – Here’s What Happened

Cargojet Inc. (TSE:CJT)’s stock price hit a new 52-week low on Thursday . The stock traded as low as C$103.97 and last traded at C$104.40, with a volume of 12243 shares changing hands. The stock had previously closed at C$106.20.

Wall Street Analyst Weigh In

Several research analysts have commented on CJT shares. National Bankshares lifted their price target 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. Canaccord Genuity Group raised their price objective on Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. TD Securities reduced 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. ATB Capital dropped their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Finally, CIBC increased their price target on shares of Cargojet from C$172.00 to C$177.00 in a research report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$159.27.

Cargojet Trading Up 2.2 %

The stock has a market capitalization of C$1.67 billion, a price-to-earnings ratio of -109.09 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The business has a 50 day simple moving average of C$125.73 and a 200-day simple moving average of C$127.40.

Cargojet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, January 3rd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, December 20th. 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.