Brokerages forecast that CAE Inc (NYSE:CAE) (TSE:CAE) will report sales of $554.83 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CAE’s earnings. The lowest sales estimate is $539.50 million and the highest is $580.70 million. CAE reported sales of $487.38 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.8%. The firm is expected to issue its next quarterly earnings results before the market opens on Friday, November 10th.
According to Zacks, analysts expect that CAE will report full year sales of $554.83 million for the current year, with estimates ranging from $2.26 billion to $2.32 billion. For the next financial year, analysts expect that the business will report sales of $2.40 billion per share, with estimates ranging from $2.37 billion to $2.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow CAE.
CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings data 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 company had revenue of $699.00 million for 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 company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share.
Several brokerages have commented on CAE. BidaskClub lowered CAE from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised CAE from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a report on Thursday, August 31st. Finally, BMO Capital Markets raised CAE from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Wednesday, August 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.67.
CAE (NYSE:CAE) opened at 17.54 on Tuesday. CAE has a 52 week low of $13.75 and a 52 week high of $17.88. The company’s 50 day moving average price is $17.15 and its 200-day moving average price is $16.63. The company has a market capitalization of $4.72 billion, a P/E ratio of 23.20 and a beta of 0.87.
Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in CAE by 19.8% in the first quarter. Dimensional Fund Advisors LP now owns 222,215 shares of the aerospace company’s stock valued at $3,398,000 after purchasing an additional 36,655 shares during the period. First Trust Advisors LP acquired a new stake in shares of CAE in the second quarter valued at $554,000. CIBC World Markets Inc. grew its stake in shares of CAE by 23.5% in the second quarter. CIBC World Markets Inc. now owns 2,143,727 shares of the aerospace company’s stock valued at $36,958,000 after buying an additional 407,235 shares in the last quarter. AJO LP grew its stake in shares of CAE by 25.7% in the second quarter. AJO LP now owns 72,300 shares of the aerospace company’s stock valued at $1,246,000 after buying an additional 14,800 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of CAE by 4.7% in the second quarter. Vanguard Group Inc. now owns 5,901,367 shares of the aerospace company’s stock valued at $101,740,000 after buying an additional 266,410 shares in the last quarter. Hedge funds and other institutional investors own 53.80% of the company’s stock.
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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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