Cargojet Inc. Forecasted to Post FY2024 Earnings of $4.92 Per Share (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Equities researchers at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Cargojet in a research report issued on Monday, April 29th. National Bank Financial analyst C. Doerksen now expects that the company will post earnings of $4.92 per share for the year, up from their previous forecast of $3.51. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. National Bank Financial also issued estimates for Cargojet’s FY2025 earnings at $4.91 EPS.

Cargojet (TSE:CJT) last posted its earnings results 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 return on equity of 4.62% and a net margin of 4.25%. The business had revenue of C$221.90 million for the quarter, compared to analysts’ expectations of C$250.58 million.

A number of other research firms have also recently issued reports on CJT. Cormark cut their price objective on Cargojet from C$121.00 to C$120.00 in a report on Tuesday, February 27th. Royal Bank of Canada cut their price objective on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating for the company in a report on Tuesday. Canaccord Genuity Group upped their price objective on Cargojet from C$145.00 to C$148.00 in a report on Wednesday, April 24th. Scotiabank upped their price objective on Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Finally, Acumen Capital upped their price objective on Cargojet from C$160.00 to C$165.00 and gave the stock a “buy” rating in a report 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Price Performance

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

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 20th were given a $0.315 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, March 19th. Cargojet’s 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.