Equities Analysts Issue Forecasts for Cargojet Inc.’s Q2 2024 Earnings (TSE:CJT)

Cargojet Inc. (TSE:CJTFree Report) – Equities researchers at Atb Cap Markets increased their Q2 2024 EPS estimates for Cargojet in a research note issued on Monday, April 29th. Atb Cap Markets analyst C. Murray now anticipates that the company will earn $1.54 per share for the quarter, up from their previous forecast of $1.47. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Atb Cap Markets also issued estimates for Cargojet’s Q3 2024 earnings at $1.63 EPS, Q4 2024 earnings at $1.86 EPS, Q2 2025 earnings at $2.02 EPS, Q3 2025 earnings at $2.08 EPS and Q4 2025 earnings at $2.19 EPS.

Cargojet (TSE:CJTGet Free Report) last posted its quarterly earnings data on Monday, February 26th. The company reported C($0.14) EPS for the quarter, missing the consensus estimate of C$0.88 by C($1.02). Cargojet had a net margin of 4.25% and a return on equity of 4.62%. The firm had revenue of C$221.90 million during the quarter, compared to analysts’ expectations of C$250.58 million.

Several other research analysts have also recently weighed in on the company. Cormark cut their price objective on Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. Scotiabank boosted their price target on shares of Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. TD Securities increased their price target on shares of Cargojet from C$157.00 to C$162.00 and gave the company a “buy” rating in a research report on Tuesday. ATB Capital raised their price objective on shares of Cargojet from C$155.00 to C$160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, BMO Capital Markets boosted their target price on shares of Cargojet from C$110.00 to C$115.00 and gave the company a “market perform” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$148.91.

View Our Latest Research Report on Cargojet

Cargojet Stock Performance

CJT stock opened at C$118.77 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 101.87. The firm has a market cap of C$2.00 billion, a PE ratio of 54.48 and a beta of 1.03. The business has a 50 day moving average of C$112.30 and a 200-day moving average of C$108.28. Cargojet has a 12-month low of C$76.50 and a 12-month high of C$125.44.

Cargojet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s dividend payout ratio (DPR) is currently 57.80%.

Cargojet Company Profile

(Get Free Report)

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.

See Also

Earnings History and Estimates for Cargojet (TSE:CJT)

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