Atb Cap Markets Research Analysts Raise Earnings Estimates for Cargojet Inc. (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Analysts at Atb Cap Markets increased their FY2024 EPS estimates for shares of Cargojet in a report released on Monday, April 29th. Atb Cap Markets analyst C. Murray now expects that the company will post earnings of $6.88 per share for the year, up from their prior estimate of $5.86. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Atb Cap Markets also issued estimates for Cargojet’s Q1 2025 earnings at $1.42 EPS and FY2025 earnings at $7.72 EPS.

Other equities research analysts have also issued research reports about the stock. Laurentian upgraded shares of Cargojet from a “hold” rating to a “buy” rating and boosted their price target for the company from C$102.00 to C$150.00 in a report on Tuesday, January 16th. Canaccord Genuity Group boosted their price target on shares of Cargojet from C$145.00 to C$148.00 in a report on Wednesday, April 24th. BMO Capital Markets boosted their price target on shares of Cargojet from C$110.00 to C$115.00 and gave the company a “market perform” rating in a report on Tuesday, February 27th. Cormark cut their price target on shares of Cargojet from C$121.00 to C$120.00 in a report on Tuesday, February 27th. Finally, Royal Bank of Canada cut their price target on shares of Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Stock Performance

Shares of CJT opened at C$120.02 on Thursday. The firm’s 50 day moving average is C$112.36 and its 200-day moving average is C$108.51. The stock has a market capitalization of C$2.02 billion, a P/E ratio of 55.06 and a beta of 1.03. The company has a debt-to-equity ratio of 101.87, a current ratio of 1.49 and a quick ratio of 0.79. Cargojet has a 12-month low of C$76.50 and a 12-month high of C$125.44.

Cargojet (TSE:CJT) last announced its quarterly earnings data on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.88 by C($1.02). The business had revenue of C$221.90 million during the quarter, compared to analyst estimates of C$250.58 million. Cargojet had a return on equity of 4.62% and a net margin of 4.25%.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 1.05%. The ex-dividend date was Tuesday, March 19th. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s dividend payout ratio is currently 57.80%.

About Cargojet

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.