CAE (NYSE:CAE) Trading Down 3.2% – What’s Next?

CAE Inc. (NYSE:CAE) (TSE:CAE) fell 3.2% during mid-day trading on Tuesday . The stock traded as low as $25.99 and last traded at $26.01. 123,842 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 558,415 shares. The stock had previously closed at $26.87.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CAE. Royal Bank of Canada lowered CAE from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $41.00 to $38.00 in a report on Wednesday, May 21st. Wall Street Zen raised CAE from a “hold” rating to a “buy” rating in a research report on Tuesday, May 27th. Jefferies Financial Group lowered their price objective on CAE from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, May 16th. CIBC reiterated a “neutral” rating on shares of CAE in a report on Thursday, May 15th. Finally, Bank of America raised shares of CAE from an “underperform” rating to a “neutral” rating in a research report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CAE currently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

CAE Trading Down 3.5%

The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. The firm has a market cap of $8.30 billion, a PE ratio of -49.85, a P/E/G ratio of 1.94 and a beta of 1.26. The business has a fifty day moving average price of $24.41 and a 200 day moving average price of $24.22.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings results on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $886.20 million during the quarter, compared to analysts’ expectations of $1.30 billion. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. CAE’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. Analysts forecast that CAE Inc. will post 0.83 EPS for the current year.

Institutional Trading of CAE

Several hedge funds have recently modified their holdings of the business. Stanley Laman Group Ltd. increased its holdings in CAE by 3.2% during the 4th quarter. Stanley Laman Group Ltd. now owns 231,652 shares of the aerospace company’s stock valued at $5,879,000 after acquiring an additional 7,260 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of CAE in the fourth quarter valued at approximately $30,000. Allworth Financial LP increased its stake in shares of CAE by 14.2% during the 4th quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company’s stock worth $177,000 after purchasing an additional 913 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CAE by 25.6% in the fourth quarter. Principal Financial Group Inc. now owns 29,900 shares of the aerospace company’s stock worth $759,000 after acquiring an additional 6,100 shares during the last quarter. Finally, Truist Financial Corp increased its position in CAE by 2.5% during the 4th quarter. Truist Financial Corp now owns 63,059 shares of the aerospace company’s stock worth $1,600,000 after purchasing an additional 1,519 shares in the last quarter. 67.36% of the stock is owned by institutional investors and hedge funds.

CAE Company Profile

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.