Q3 2024 EPS Estimates for Cargojet Inc. Lifted by Analyst (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Research analysts at Cormark increased their Q3 2024 EPS estimates for shares of Cargojet in a research note issued on Tuesday, April 30th. Cormark analyst D. Ocampo now anticipates that the company will earn $0.93 per share for the quarter, up from their previous estimate 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 FY2024 earnings at $4.90 EPS, Q3 2025 earnings at $1.00 EPS and FY2025 earnings at $4.12 EPS.

Cargojet (TSE:CJT) last announced its earnings results on Monday, February 26th. The company reported C($0.14) earnings per share 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.

Several other brokerages have also issued reports on CJT. Acumen Capital raised 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. Scotiabank raised their price target on Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Laurentian raised Cargojet from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$102.00 to C$150.00 in a research report on Tuesday, January 16th. ATB Capital boosted their target price on Cargojet from C$155.00 to C$160.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Finally, National Bankshares lifted their price objective on shares of Cargojet from C$129.00 to C$132.00 and gave the company a “sector perform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Trading Up 1.1 %

Shares of TSE:CJT opened at C$120.02 on Friday. Cargojet has a 52 week low of C$76.50 and a 52 week high of C$125.44. The company’s 50 day moving average is C$112.36 and its two-hundred day moving average is C$108.51. 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 company has a market cap of C$2.02 billion, a PE ratio of 55.06 and a beta of 1.03.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders 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. The ex-dividend date was Tuesday, March 19th. This represents a $1.26 annualized dividend and a dividend yield of 1.05%. Cargojet’s dividend payout ratio is presently 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.