Cargojet (OTCMKTS:CGJTF) Shares Gap Down – Here’s Why

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $61.5360, but opened at $59.70. Cargojet shares last traded at $59.70, with a volume of 1 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on CGJTF shares. Scotiabank reissued an “outperform” rating on shares of Cargojet in a research report on Thursday. TD Securities reaffirmed a “buy” rating on shares of Cargojet in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Cargojet Stock Up 2.4%

The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.20. The stock has a market cap of $910.84 million and a P/E ratio of 41.03. The firm has a 50-day simple moving average of $60.09 and a two-hundred day simple moving average of $62.75.

Cargojet (OTCMKTS:CGJTF) last posted its earnings results on Monday, May 4th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.16). The firm had revenue of $185.68 million for the quarter, compared to analyst estimates of $175.56 million. Cargojet had a return on equity of 4.96% and a net margin of 3.62%.

Cargojet Company Profile

Cargojet Inc is a Canadian-based air cargo carrier specializing in time-sensitive freight transportation. The company operates scheduled and on-demand cargo services throughout Canada and into international markets, providing next-flight-out and overnight delivery for a broad range of shippers. Cargojet’s fleet—anchored by Boeing 767-300ER freighters—is configured to handle standard palletized freight as well as specialized shipments such as temperature-controlled pharmaceuticals and high-value electronics.

Headquartered in Mississauga, Ontario, Cargojet serves major Canadian gateways including Toronto, Vancouver and Montreal, and extends its network into the United States, the Caribbean and select Latin American destinations.