Scotiabank Issues Pessimistic Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price target lowered by Scotiabank from C$165.00 to C$139.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

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

Cargojet Stock Down 6.0 %

Shares of Cargojet stock opened at C$74.48 on Wednesday. Cargojet has a 1 year low of C$72.66 and a 1 year high of C$144.97. The company has a market cap of C$1.19 billion, a P/E ratio of 522.71 and a beta of 0.91. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. The stock 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 business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, April 4th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, March 20th. 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.