Scotiabank Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

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

Other research analysts have also issued reports about the stock. National Bankshares lifted their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. CIBC boosted their price target on shares of Cargojet from C$172.00 to C$177.00 in a research report on Wednesday, December 4th. Canaccord Genuity Group boosted their price target on shares of Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. TD Securities reduced their price target on shares of 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, ATB Capital reduced their price target on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cargojet presently has a consensus rating of “Moderate Buy” and a consensus target price of C$160.50.

Cargojet Price Performance

Cargojet stock opened at C$123.10 on Monday. Cargojet has a 52 week low of C$100.01 and a 52 week high of C$144.97. The company’s 50 day moving average price is C$114.89 and its two-hundred day moving average price is C$125.64. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84. The stock has a market cap of C$1.99 billion, a P/E ratio of -129.58 and a beta of 0.91.

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

Cargojet Dividend Announcement

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

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.