CAE Inc (CAE) Stock Rating Lowered by Zacks Investment Research
CAE Inc (NYSE:CAE) (TSE:CAE) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Thursday.
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 equities research analysts have also commented on the stock. CIBC lowered shares of CAE from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, November 11th. RBC Capital Markets lowered shares of CAE from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $19.00 to $20.00 in a research note on Friday, November 11th. They noted that the move was a valuation call. Royal Bank Of Canada lowered shares of CAE from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $19.00 to $20.00 in a research note on Friday, November 11th. Scotiabank upgraded shares of CAE from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. Finally, TD Securities upgraded shares of CAE from a “hold” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $18.88.
CAE (NYSE:CAE) traded up 0.77% during midday trading on Thursday, reaching $15.62. The company had a trading volume of 184,712 shares. The company’s 50 day moving average is $14.19 and its 200-day moving average is $14.17. CAE has a 52-week low of $10.36 and a 52-week high of $15.88. The company has a market capitalization of $4.24 billion, a P/E ratio of 22.70 and a beta of 0.83.
CAE (NYSE:CAE) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. CAE had a net margin of 8.90% and a return on equity of 13.19%. The company had revenue of $682.70 million for the quarter, compared to analyst estimates of $616.30 million. During the same quarter last year, the business earned $0.22 earnings per share. CAE’s revenue was up 10.8% compared to the same quarter last year. Equities analysts expect that CAE will post $0.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a dividend of $0.0609 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Monday, March 13th. This is a positive change from CAE’s previous quarterly dividend of $0.06. CAE’s dividend payout ratio (DPR) is currently 36.92%.
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Several hedge funds and other institutional investors have recently bought and sold shares of CAE. CGOV Asset Management bought a new position in CAE during the third quarter worth approximately $151,995,000. The Manufacturers Life Insurance Company acquired a new position in CAE during the third quarter valued at about $24,088,000. Mondrian Investment Partners LTD raised its position in CAE by 6.4% in the second quarter. Mondrian Investment Partners LTD now owns 16,284,223 shares of the company’s stock valued at $254,197,000 after buying an additional 981,915 shares during the period. Russell Investments Group Ltd. acquired a new position in CAE during the fourth quarter valued at about $9,378,000. Finally, Renaissance Technologies LLC raised its position in CAE by 100.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,202,600 shares of the company’s stock valued at $16,798,000 after buying an additional 601,900 shares during the period. Institutional investors and hedge funds own 58.78% of the company’s stock.
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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