Cargojet (TSE:CJT) Stock Breaks Above 200 Day Moving Average – Here’s What Happened

Shares of Cargojet Inc. (TSE:CJT) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$86.06 and traded as high as C$90.75. Cargojet shares last traded at C$90.04, with a volume of 104,510 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CJT. ATB Cormark Capital Markets upped their price target on Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. BMO Capital Markets lifted their price objective on Cargojet from C$85.00 to C$90.00 in a report on Wednesday, August 12th. TD set a C$128.00 target price on shares of Cargojet and gave the company a “buy” rating in a research note on Friday, October 2nd. Acumen Capital boosted their target price on shares of Cargojet from C$115.00 to C$120.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, National Bank Financial set a C$112.00 target price on shares of Cargojet and gave the stock an “outperform” rating in a report on Friday, October 2nd. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cargojet currently has a consensus rating of “Moderate Buy” and a consensus price target of C$121.00.

Cargojet Stock Up 3.3%

The business’s 50 day moving average price is C$85.04 and its 200-day moving average price is C$86.09. The company has a debt-to-equity ratio of 119.27, a current ratio of 0.83 and a quick ratio of 0.79. The company has a market cap of C$1.44 billion, a P/E ratio of 31.41 and a beta of 0.91.

Cargojet (TSE:CJT) last released its quarterly earnings results on Monday, August 10th. The company reported C$0.67 EPS for the quarter. Cargojet had a return on equity of 6.30% and a net margin of 4.49%. The business had revenue of C$275.80 million for the quarter. On average, analysts anticipate that Cargojet Inc. will post 5.89 earnings per share for the current fiscal year.

Cargojet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, October 5th were paid a $0.3850 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $1.54 dividend on an annualized basis and a yield of 1.6%. Cargojet’s payout ratio is currently 47.57%.

About Cargojet

Cargojet is Canada’s leading provider of time-sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.