Cargojet (TSE:CJT) Hits New 1-Year Low - What's Next?

Cargojet Inc. (TSE:CJT) shares reached a new low in the past year on Friday, trading as low as C$83.20 before ending the day at C$83.11 with a trading volume of 24,862 shares. This marks a decline from the previous closing price of C$86.05.

Wall Street Analyst Insights

Several equity research analysts have recently assessed Cargojet's stock. CIBC has cut its price target for the company from C$177.00 to C$163.00 as noted in a report on February 19th. On January 30th, National Bankshares reduced its target from C$158.00 to C$151.00, while still giving the stock an "outperform" rating. Similar adjustments were made by Cormark, decreasing their price target from C$140.00 to C$120.00. Conversely, Canaccord Genuity Group adjusted their price estimate upward from C$165.00 to C$173.00, and Royal Bank of Canada raised their target from C$189.00 to C$193.00. Overall, one analyst has given the stock a hold rating, six have rated it as buy, and one as strong buy. The consensus rating for Cargojet is "Buy", with a target price estimate of C$162.80 as per MarketBeat.

Current Stock Performance

The company's fifty-day moving average price stands at C$103.84, and the two-hundred-day moving average is at C$117.29. Cargojet has a market capitalization of C$1.32 billion, a notably high P/E ratio of 576.96, and a beta of 0.91. Financial metrics show a current ratio of 0.56, a quick ratio of 0.79, and a debt-to-equity ratio of 98.69.

Quarterly Dividend Announcement

Recently, Cargojet announced a quarterly dividend, which is scheduled to be paid on Friday, April 4th. Shareholders of record on this date will receive a dividend of $0.35. The ex-dividend date is set for March 20th, representing a total annualized dividend of $1.40, yielding around 1.70%. However, it is important to note that Cargojet's payout ratio is very high at 982.53%.

About Cargojet

Cargojet Inc. operates a domestic air cargo network connecting sixteen major cities across Canada. The firm provides dedicated aircraft services under an Aircraft, Crew, Maintenance, and Insurance (ACMI) model, and it also coordinates international air routes for various cargo clients, including services between the USA and Bermuda, Canada and the UK, as well as Canada and Mexico.

Should You Invest?

Before considering an investment in Cargojet, it's essential to evaluate the recommendations and insights from market analysts. Current consensus indicates that while Cargojet is rated as a buy, there are alternative stocks that some analysts suggest may present better investment opportunities.

Cargojet, Stocks, Analysis