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

Shares of Cargojet Inc. (OTCMKTS:CGJTF) gapped down before the market opened 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.

Analyst Upgrades and Downgrades

Separately, TD Securities restated 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Cargojet Price Performance

The company has a 50 day moving average of $60.08 and a 200 day moving average of $62.77. 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 firm has a market cap of $889.53 million and a price-to-earnings ratio of 40.07.

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

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.