CAE Inc (NYSE:CAE) (TSE:CAE) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Friday, May 12th.
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. “
CAE has been the subject of a number of other research reports. TD Securities upgraded CAE from a “hold” rating to a “buy” rating in a research report on Wednesday, February 15th. Scotiabank upgraded CAE from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, February 15th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.
Shares of CAE (CAE) traded up 0.73% during midday trading on Friday, hitting $16.61. 330,989 shares of the company were exchanged. The company has a 50-day moving average price of $16.02 and a 200-day moving average price of $15.02. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 24.11 and a beta of 0.85. CAE has a 52-week low of $11.85 and a 52-week high of $16.70.
CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings data on Wednesday, May 31st. The aerospace company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. CAE had a return on equity of 13.96% and a net margin of 9.30%. The company had revenue of $734.70 million during the quarter, compared to the consensus estimate of $748.41 million. During the same quarter last year, the company earned $0.27 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts forecast that CAE will post $0.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.059 dividend. This is a boost from CAE’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Tuesday, June 13th. CAE’s dividend payout ratio (DPR) is 33.80%.
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Large investors have recently added to or reduced their stakes in the stock. Legato Capital Management LLC boosted its stake in CAE by 1,423.6% in the first quarter. Legato Capital Management LLC now owns 7,675,571 shares of the aerospace company’s stock valued at $503,766,000 after buying an additional 7,171,805 shares during the period. Norges Bank bought a new stake in shares of CAE during the fourth quarter worth approximately $35,196,000. The Manufacturers Life Insurance Company bought a new stake in shares of CAE during the third quarter worth approximately $24,088,000. Mackenzie Financial Corp boosted its stake in shares of CAE by 17.7% in the first quarter. Mackenzie Financial Corp now owns 7,332,489 shares of the aerospace company’s stock worth $112,114,000 after buying an additional 1,105,110 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in shares of CAE during the fourth quarter worth approximately $9,378,000. 57.60% of the stock is 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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