Cargojet (OTCMKTS:CGJTF) Shares Gap Down - Here's What Happened

Key Points

• Cargojet gapped down Monday, opening at $63.90 after a $68.1765 close and trading down about 5% on light volume, below its 50-day average ($67.78) and near its 200-day average ($64.03).
• Quarterly results were mixed: Cargojet beat EPS estimates ($1.05 vs. $0.73) but missed revenue forecasts ($207.3M vs. $251.3M).
• Analyst sentiment is cautiously positive, with two Buy ratings and one Hold leading to an average rating of "Moderate Buy"; BMO reiterated Market Perform while Scotiabank kept an Outperform rating.

Cargojet Inc. (OTCMKTS:CGJTF - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $68.1765, but opened at $63.90. Cargojet shares last traded at $63.90, with a volume of 100 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. BMO Capital Markets reissued a "market perform" rating on shares of Cargojet in a report on Thursday, January 15th. Scotiabank reiterated an "outperform" rating on shares of Cargojet in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

Cargojet Trading Down 5.0%

The firm's 50-day simple moving average is $67.78 and its two-hundred day simple moving average is $64.03.

Cargojet (OTCMKTS:CGJTF - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.32. The company had revenue of $207.32 million for the quarter, compared to analyst estimates of $251.30 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.

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