CAE (NYSE:CAE) (TSE:CAE) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has a $38.00 price target on the aerospace company’s stock. Scotiabank’s price objective suggests a potential upside of 50.55% from the company’s current price.
Several other analysts also recently issued reports on CAE. Desjardins downgraded CAE from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. BMO Capital Markets lowered CAE from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 21st. CIBC restated a “hold” rating and set a $37.00 price target on shares of CAE in a research note on Wednesday, May 22nd. Raymond James restated a “hold” rating on shares of CAE in a research note on Friday, August 16th. Finally, Zacks Investment Research lowered CAE from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.50.
Shares of CAE stock traded down $0.93 during trading hours on Friday, reaching $25.24. The company had a trading volume of 173,612 shares, compared to its average volume of 260,415. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.87 and a current ratio of 1.20. CAE has a twelve month low of $16.96 and a twelve month high of $28.03. The company has a market capitalization of $6.80 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82. The stock’s fifty day simple moving average is $26.43 and its 200 day simple moving average is $24.50.
CAE (NYSE:CAE) (TSE:CAE) last posted its earnings results on Wednesday, August 14th. The aerospace company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $825.60 million during the quarter, compared to analyst estimates of $849.39 million. CAE had a net margin of 9.45% and a return on equity of 13.94%. CAE’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. As a group, equities analysts expect that CAE will post 1.02 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the business. Bank of Nova Scotia lifted its position in CAE by 3,370.2% during the second quarter. Bank of Nova Scotia now owns 7,214,070 shares of the aerospace company’s stock worth $9,973,000 after acquiring an additional 7,006,186 shares during the last quarter. Invesco Ltd. increased its holdings in CAE by 1,080.6% during the second quarter. Invesco Ltd. now owns 5,753,098 shares of the aerospace company’s stock worth $154,529,000 after buying an additional 5,265,791 shares during the last quarter. FMR LLC increased its holdings in CAE by 35.6% during the first quarter. FMR LLC now owns 3,511,984 shares of the aerospace company’s stock worth $77,816,000 after buying an additional 921,799 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in CAE by 61.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,532,909 shares of the aerospace company’s stock worth $33,956,000 after buying an additional 583,176 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in CAE during the first quarter worth about $15,275,000. 51.67% of the stock is currently owned by hedge funds and other institutional investors.
CAE Inc, together with its subsidiaries, provides training solutions for the civil aviation, defence and security, and healthcare markets worldwide. The company's Civil Aviation Training Solutions segment provides training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; flight simulation training devices; and ab initio pilot training and crew sourcing services.
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