Q2 2024 EPS Estimates for Cargojet Inc. Boosted by Analyst (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Investment analysts at Cormark lifted their Q2 2024 earnings estimates for shares of Cargojet in a report issued on Tuesday, April 30th. Cormark analyst D. Ocampo now expects that the company will post earnings per share of $0.87 for the quarter, up from their prior forecast of $0.71. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Cormark also issued estimates for Cargojet’s Q4 2024 earnings at $1.24 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.92 EPS, Q4 2025 earnings at $1.33 EPS and FY2026 earnings at $4.33 EPS.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reduced their target price on shares of Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research note on Tuesday. Laurentian upgraded Cargojet from a “hold” rating to a “buy” rating and upped their price objective for the company from C$102.00 to C$150.00 in a report on Tuesday, January 16th. National Bankshares raised their target price on Cargojet from C$129.00 to C$132.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Acumen Capital lifted their target price on Cargojet from C$160.00 to C$165.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, TD Securities increased their price target on Cargojet from C$157.00 to C$162.00 and gave the stock a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Stock Up 1.1 %

TSE CJT opened at C$120.02 on Thursday. The business’s fifty day simple moving average is C$112.36 and its 200-day simple moving average is C$108.51. 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$2.02 billion, a PE ratio of 55.06 and a beta of 1.03. Cargojet has a 52 week low of C$76.50 and a 52 week high of C$125.44.

Cargojet (TSE:CJT) last announced its quarterly earnings data on Monday, February 26th. The company reported C($0.14) EPS for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). The company had revenue of C$221.90 million for the quarter, compared to analysts’ expectations 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 company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders 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 annualized dividend and a yield of 1.05%. The ex-dividend date was Tuesday, March 19th. Cargojet’s payout ratio is currently 57.80%.

Cargojet Company Profile

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.