Cargojet (TSE:CJT) Hits New 1-Year Low Following Analyst Downgrade

Cargojet Inc. (TSE:CJT)’s stock price reached a new 52-week low during trading on Thursday after Scotiabank lowered their price target on the stock from C$165.00 to C$139.00. Scotiabank currently has an outperform rating on the stock. Cargojet traded as low as C$79.63 and last traded at C$82.16, with a volume of 97234 shares. The stock had previously closed at C$81.63.

A number of other equities analysts have also recently issued reports on the stock. CIBC cut their target price on shares of Cargojet from C$177.00 to C$163.00 in a report on Wednesday, February 19th. National Bankshares cut their price target on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Cormark lowered their price objective on Cargojet from C$140.00 to C$120.00 in a research note on Wednesday, February 19th. Royal Bank of Canada raised their target price on Cargojet from C$189.00 to C$193.00 in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group upped their price target on shares of Cargojet from C$165.00 to C$173.00 in a research report on Wednesday, February 19th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$160.20.

Cargojet Trading Down 6.0 %

The firm has a market capitalization of C$1.19 billion, a P/E ratio of 522.71 and a beta of 0.91. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The business has a 50-day moving average price of C$98.69 and a 200-day moving average price of C$115.33.

Cargojet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, April 4th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.88%. Cargojet’s dividend payout ratio (DPR) is presently 982.53%.

About Cargojet

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.