CIBC Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price objective lowered by CIBC from C$177.00 to C$163.00 in a research note published on Wednesday,BayStreet.CA reports.

A number of other research firms also recently commented on CJT. Scotiabank dropped their price objective on Cargojet from C$170.00 to C$165.00 in a report on Wednesday. National Bankshares dropped their price target on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. ATB Capital reduced their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Cormark cut their target price on shares of Cargojet from C$140.00 to C$120.00 in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on Cargojet from C$189.00 to C$193.00 in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$158.45.

Cargojet Stock Performance

Shares of CJT stock opened at C$101.34 on Wednesday. Cargojet has a fifty-two week low of C$100.01 and a fifty-two week high of C$144.97. The stock’s 50-day moving average is C$112.62 and its two-hundred day moving average is C$122.88. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The firm has a market cap of C$1.62 billion, a P/E ratio of 711.21 and a beta of 0.91.

Cargojet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. Cargojet’s payout ratio is 982.53%.

Cargojet Company Profile

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.