Cargojet (OTCMKTS:CGJTF) Stock Price Breaks Above 200-Day Moving Average - What's Next?

Key Points

• Cargojet shares broke above their 200-day moving average, reaching $64.71 and closing at $63.96, up 3.8% in the session.
• Analyst sentiment is generally positive: two analysts rate the stock Buy and one rates it Hold, resulting in a MarketBeat consensus rating of Moderate Buy.
• In its latest quarter, Cargojet reported revenue of $194.16 million, above expectations, but earnings per share of $0.48 missed the $0.57 consensus estimate.

Cargojet Inc. (OTCMKTS:CGJTF - Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $62.13 and traded as high as $64.71. Cargojet shares last traded at $63.96, with a volume of 6,578 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CGJTF shares. TD Securities reissued a "buy" rating on shares of Cargojet in a research report on Thursday, September 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Cargojet in a research report on Wednesday, August 12th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Cargojet in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Cargojet Stock Up 3.8%

The company has a market capitalization of $953.00 million and a PE ratio of 32.47. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.83. The stock's 50 day moving average is $60.38 and its 200 day moving average is $62.13.

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

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.

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