Cargojet Inc. (TSE:CJT – Get Rating) – Research analysts at Cormark lowered their Q3 2022 EPS estimates for shares of Cargojet in a report released on Wednesday, September 28th. Cormark analyst D. Ocampo now forecasts that the company will post earnings per share of $1.67 for the quarter, down from their previous estimate of $1.70. The consensus estimate for Cargojet’s current full-year earnings is $7.46 per share. Cormark also issued estimates for Cargojet’s Q2 2023 earnings at $1.66 EPS, Q4 2023 earnings at $2.44 EPS, FY2023 earnings at $7.41 EPS, FY2024 earnings at $9.29 EPS and FY2025 earnings at $11.41 EPS.
Cargojet (TSE:CJT – Get Rating) last issued its earnings results on Wednesday, July 27th. The company reported C$1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.70 by C($0.19). The firm had revenue of C$246.60 million for the quarter, compared to the consensus estimate of C$236.20 million.
CJT has been the topic of several other research reports. TD Securities lifted their price objective on shares of Cargojet from C$195.00 to C$200.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Royal Bank of Canada reduced their price objective on shares of Cargojet from C$287.00 to C$286.00 and set an “outperform” rating on the stock in a research note on Wednesday. BMO Capital Markets lowered shares of Cargojet to a “hold” rating and set a C$165.00 price objective on the stock. in a research note on Thursday, June 16th. Scotiabank lifted their price objective on shares of Cargojet from C$190.00 to C$200.00 in a research note on Thursday, July 28th. Finally, National Bankshares reduced their price objective on shares of Cargojet from C$185.00 to C$158.00 and set a “sector perform” rating on the stock in a research note on Friday, July 15th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$202.64.
Cargojet Stock Down 1.5 %
Shares of TSE CJT opened at C$119.29 on Thursday. The firm has a market capitalization of C$2.06 billion and a PE ratio of 10.82. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 70.77. Cargojet has a 1 year low of C$109.69 and a 1 year high of C$210.00. The firm’s 50-day moving average is C$139.13 and its 200-day moving average is C$147.51.
Cargojet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, October 5th will be issued a $0.286 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.96%. Cargojet’s dividend payout ratio (DPR) is presently 9.67%.
In other news, Director Jamie Bennett Porteous sold 730 shares of Cargojet stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of C$153.49, for a total value of C$112,047.70. Following the sale, the director now directly owns 1,157 shares in the company, valued at C$177,587.93.
Cargojet Company Profile
Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic air cargo network services between fourteen cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.
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