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

Cargojet Inc. (OTCMKTS:CGJTF) shares gapped down before the market opened on Thursday . The stock had previously closed at $62.01, but opened at $57.47. Cargojet shares last traded at $57.47, with a volume of 53 shares.

Wall Street Analyst Weigh In

Separately, TD Securities reaffirmed a “buy” rating on shares of Cargojet in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Cargojet presently has an average rating of “Moderate Buy”.

Cargojet Stock Down 2.5%

The business has a 50-day moving average price of $59.86 and a 200-day moving average price of $62.41. The firm has a market cap of $861.82 million and a P/E ratio of 38.82. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.20.

Cargojet (OTCMKTS:CGJTF) last issued its quarterly earnings data 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). Cargojet had a net margin of 3.62% and a return on equity of 4.96%. The company had revenue of $185.68 million for the quarter, compared to the consensus estimate of $175.56 million.

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.