Cargojet (TSE:CJT) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Cargojet Inc. (TSE:CJT) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$84.84 and traded as high as C$88.00. Cargojet shares last traded at C$86.92, with a volume of 137,316 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. National Bank Financial increased their price target on Cargojet from C$104.00 to C$108.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. TD increased their price target on Cargojet from C$120.00 to C$124.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada dropped their price target 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. Stifel Nicolaus increased their price target on Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$124.58.

Cargojet Stock Performance

The company has a debt-to-equity ratio of 123.57, a quick ratio of 0.79 and a current ratio of 0.91. The stock has a fifty day simple moving average of C$82.13 and a two-hundred day simple moving average of C$84.84. The stock has a market capitalization of C$1.30 billion, a price-to-earnings ratio of 35.48 and a beta of 0.87.

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

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, March 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.35. Cargojet’s dividend payout ratio (DPR) is 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.