Cargojet (TSE:CJT) Stock Crosses Below 200 Day Moving Average – What’s Next?

Cargojet Inc. (TSE:CJT)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$85.44 and traded as low as C$81.78. Cargojet shares last traded at C$82.56, with a volume of 69,007 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CJT. Stifel Nicolaus increased their price objective on shares of Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Canadian Imperial Bank of Commerce increased their target price on Cargojet from C$116.00 to C$122.00 in a research note on Thursday, April 2nd. Royal Bank Of Canada lowered their target price on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. TD lifted their price objective on shares of Cargojet from C$120.00 to C$124.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, BMO Capital Markets lowered their price objective on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating on the stock in a report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Cargojet has an average rating of “Moderate Buy” and an average price target of C$124.58.

Cargojet Stock Down 1.2%

The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 123.57. The stock has a market cap of C$1.22 billion, a P/E ratio of 33.29 and a beta of 0.97. The firm has a 50-day simple moving average of C$82.25 and a two-hundred day simple moving average of C$85.41.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Monday, May 4th. The company reported C$0.60 earnings per share for the quarter. The firm had revenue of C$254.70 million for the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%. Equities research analysts expect that Cargojet Inc. will post 5.890933 earnings per share for the current fiscal year.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were given a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, March 20th. This is a boost from Cargojet’s previous quarterly dividend of $0.35. Cargojet’s dividend payout ratio is presently 58.57%.

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.