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

Cargojet Inc. (OTCMKTS:CGJTF)’s share price gapped down before the market opened on Monday . The stock had previously closed at $62.59, but opened at $60.2540. Cargojet shares last traded at $60.2540, with a volume of 2 shares.

Wall Street Analysts Forecast Growth

CGJTF has been the subject of a number of recent analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Cargojet in a research report on Wednesday, August 12th. Scotiabank reissued an “outperform” rating on shares of Cargojet in a research note on Wednesday, August 12th. Finally, TD Securities restated a “buy” rating on shares of Cargojet in a research note 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Cargojet Stock Down 3.0%

The stock’s fifty day moving average price is $61.49 and its 200 day moving average price is $61.96. 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 $897.72 million and a P/E ratio of 30.59.

Cargojet (OTCMKTS:CGJTF) last announced its earnings results on Monday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.09). The company had revenue of $194.16 million during the quarter, compared to analysts’ expectations of $184.05 million. Cargojet had a return on equity of 6.73% and a net margin of 4.48%.

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.