Zacks Investment Research upgraded shares of CAE Inc (NYSE:CAE) (TSE:CAE) from a hold rating to a buy rating in a research report released on Tuesday, August 1st. They currently have $19.00 price objective on the aerospace company’s stock.
According to Zacks, “CAE is a world leader in providing simulation and modelling technologies, and integrated training services to the civil aviation industry and defence forces around the globe. The Company design, manufacture and supply simulation equipment and offer training and services. This includes integrated modelling, simulation and training solutions for commercial airlines, business aircraft operators, aircraft manufacturers and military organizations and a global network of training centres for pilots, and in some instances, cabin crew and maintenance workers. “
Several other research analysts have also recently weighed in on CAE. TD Securities cut shares of CAE from a buy rating to a hold rating in a report on Thursday, June 1st. BidaskClub raised shares of CAE from a buy rating to a strong-buy rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. CAE currently has an average rating of Hold and a consensus target price of $19.50.
CAE (NYSE:CAE) traded down 1.15% during trading on Tuesday, hitting $16.32. The stock had a trading volume of 165,433 shares. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 22.57 and a beta of 0.86. The stock has a 50 day moving average price of $17.13 and a 200 day moving average price of $15.90. CAE has a 12-month low of $13.57 and a 12-month high of $17.88.
CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Thursday, August 10th. The aerospace company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.01. The firm had revenue of $699 million during the quarter, compared to the consensus estimate of $699.76 million. CAE had a net margin of 8.96% and a return on equity of 13.24%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. Equities research analysts forecast that CAE will post $0.85 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.071 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost from CAE’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.74%. CAE’s dividend payout ratio (DPR) is currently 34.29%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. boosted its position in shares of CAE by 89.8% in the second quarter. Advisor Group Inc. now owns 7,091 shares of the aerospace company’s stock valued at $122,000 after buying an additional 3,354 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of CAE by 0.7% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,557 shares of the aerospace company’s stock valued at $130,000 after buying an additional 57 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of CAE during the first quarter valued at approximately $138,000. Trexquant Investment LP acquired a new position in shares of CAE during the first quarter valued at approximately $173,000. Finally, Wetherby Asset Management Inc. acquired a new position in shares of CAE during the first quarter valued at approximately $207,000. 56.12% of the stock is currently owned by institutional investors.
CAE Company Profile
CAE Inc provides training for the civil aviation, defense and security, and healthcare markets. The Company designs and integrates training solutions. It operates through three segments: Civil Aviation Training Solutions, Defense and Security, and Healthcare. The Company provides training solutions for flight, cabin, maintenance and ground personnel in commercial, business and helicopter aviation, a range of flight simulation training devices, as well as ab initio pilot training and crew sourcing services.
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