FY2024 EPS Estimates for Cargojet Inc. Raised by Atb Cap Markets (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Atb Cap Markets increased their FY2024 earnings per share (EPS) estimates for Cargojet in a note issued to investors on Monday, April 29th. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings per share of $6.88 for the year, up from their previous forecast 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.

Cargojet (TSE:CJT) last posted its quarterly earnings data 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 net margin of 4.25% and a return on equity of 4.62%. The business had revenue of C$221.90 million during the quarter, compared to the consensus estimate of C$250.58 million.

Several other research firms have also recently weighed in on CJT. Royal Bank of Canada reduced their price objective on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating for the company in a research report on Tuesday. BMO Capital Markets raised their target price on Cargojet from C$110.00 to C$115.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 27th. Cormark reduced their target price on Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. TD Securities raised their target price on Cargojet from C$157.00 to C$162.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, ATB Capital raised their target price on Cargojet from C$155.00 to C$160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$148.91.

Cargojet Stock Down 4.8 %

CJT opened at C$117.08 on Thursday. Cargojet has a 1-year low of C$76.50 and a 1-year 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$1.98 billion, a price-to-earnings ratio of 53.71 and a beta of 1.03. The business has a 50 day moving average of C$112.32 and a 200-day moving average of C$108.21.

Cargojet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 20th were paid a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.08%. Cargojet’s dividend payout ratio (DPR) is 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.