Cargojet (TSE:CJT) Hits New 12-Month Low - What to Do Next?

Cargojet Inc. (TSE:CJT - Get Free Report) recently saw its stock price drop to a new 52-week low on Monday, trading as low as C$99.14 before last being recorded at C$100.50. During the trading day, around 21,854 shares were exchanged, with the previous close sitting at C$101.34.

Analysts Predict Growth Ahead

A number of research firms have weighed in on Cargojet's stock. For example, Canaccord Genuity Group recently raised its target price for the stock from C$160.00 to C$165.00. On the other hand, Scotiabank lowered its price target from C$170.00 to C$165.00 in a comprehensive review. Similarly, the Royal Bank of Canada has increased its target price, moving from C$189.00 to C$193.00. Meanwhile, CIBC has adjusted its estimation down from C$177.00 to C$163.00. Finally, National Bankshares has reduced Cargojet's target price from C$158.00 to C$151.00 while maintaining an "outperform" rating. Among analysts, two have rated the stock as a hold, seven as a buy, and one as a strong buy, providing a consensus rating of "Moderate Buy" with an average target price of C$158.45 according to MarketBeat data.

Cargojet's Stock Performance and Financial Ratios

Interestingly, Cargojet's stock has recently increased by 0.5%. Currently, the company reports a current ratio of 0.56, a quick ratio of 0.79, and a high debt-to-equity ratio of 98.69. The stock's 50-day moving average stands at C$112.62, while its 200-day moving average is at C$122.90. The market capitalization for Cargojet is C$1.63 billion, and it has a price-to-earnings ratio of 714.51 along with a beta of 0.91.

Dividend Information from Cargojet

In addition to its stock performance, Cargojet has recently announced a quarterly dividend that is scheduled for payment on Friday, April 4th. Shareholders registered by Thursday, March 20th, will receive a dividend of $0.35 per share. This leads to an annualized dividend of $1.40, giving the stock a yield of 1.38%. Notably, Cargojet's payout ratio is an impressive 982.53%, indicating a high return being distributed to shareholders.

About Cargojet

Cargojet Inc. functions as a domestic air cargo service that operates a co-load network across sixteen major Canadian cities. The company offers dedicated aircraft services to customers on an Aircraft, Crew, Maintenance, and Insurance basis, serving routes in Canada, as well as in the USA, Mexico, and Europe. Furthermore, Cargojet also manages scheduled international service routes catering to various cargo clients between the USA and Bermuda, Canada and the UK, Canada and Germany, as well as Canada and Mexico.

Final Thoughts

As Cargojet stocks reach a new low, it may be worth considering your investment strategy. While analysts maintain a positive outlook for the company, those looking to make informed decisions should compare Cargojet with other potential investments. Current ratings suggest a moderate buy, but larger opportunities might exist elsewhere in the market.

Cargojet, Stocks, Investment