Cargojet (OTCMKTS:CGJTF) Shares Gap Down – What’s Next?

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped down prior to trading 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 traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on CGJTF. BMO Capital Markets reissued a “market perform” rating on shares of Cargojet in a research report on Wednesday, August 12th. TD Securities restated a “buy” rating on shares of Cargojet in a report on Wednesday, May 6th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Cargojet in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Cargojet Stock Down 2.0%

The firm has a market capitalization of $889.83 million and a P/E ratio of 30.31. The company has a fifty day simple moving average of $61.57 and a 200 day simple moving average of $61.79. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 1.20.

Cargojet (OTCMKTS:CGJTF) last posted its quarterly 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%.

About Cargojet

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.