Cargojet (OTCMKTS:CGJTF) Stock Falls 1.3% – Here’s What Happened

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price traded down 1.3% during mid-day trading on Monday. The stock traded as low as $59.5880 and last traded at $59.5880. Approximately 931 shares were traded during trading, a decline of 86% from the average session volume of 6,710 shares. The stock had previously closed at $60.39.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BMO Capital Markets restated a “market perform” rating on shares of Cargojet in a research note on Wednesday, August 12th. Scotiabank reissued an “outperform” rating on shares of Cargojet in a report on Wednesday, August 12th. Finally, TD Securities reissued a “buy” rating on shares of Cargojet in a report on Thursday, September 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Cargojet currently has a consensus rating of “Moderate Buy”.

Cargojet Price Performance

The company has a market capitalization of $908.48 million and a PE ratio of 30.95. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.16. The firm’s 50-day moving average is $60.52 and its 200-day moving average is $62.19.

Cargojet (OTCMKTS:CGJTF) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.09). The firm had revenue of $194.16 million during the quarter, compared to analysts’ expectations of $184.05 million. Cargojet had a return on equity of 6.75% and a net margin of 4.48%.

About Cargojet

Cargojet Inc is a Canadian air cargo carrier that provides time-sensitive freight transportation and logistics services. Through its operating subsidiary, Cargojet Airways, the company transports packages, mail and other cargo for e-commerce companies, freight forwarders, integrators and other commercial customers.

Cargojet operates scheduled overnight air-cargo services across Canada, connecting major Canadian cities and regional markets. It also provides international and transborder cargo transportation, charter flights and aircraft, crew, maintenance and insurance (ACMI) services for customers that require dedicated freighter capacity.

Founded in 2001, Cargojet is headquartered in Mississauga, Ontario.