Zacks Investment Research Downgrades CAE (NYSE:CAE) to Hold


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CAE (NYSE:CAE) (TSE:CAE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

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. “

A number of other analysts have also recently commented on the company. Scotiabank dropped their price objective on CAE from $45.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, March 11th. BMO Capital Markets lifted their price objective on CAE from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. National Bank Financial upgraded CAE from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $41.00 to $43.00 in a report on Monday, April 19th. TD Securities lifted their price target on CAE from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 2nd. Finally, Canaccord Genuity lifted their price target on CAE from $34.00 to $38.00 and gave the company a “hold” rating in a report on Tuesday, March 2nd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $39.10.

CAE stock opened at $30.91 on Monday. The stock has a market cap of $9.07 billion, a PE ratio of 171.73, a P/E/G ratio of 10.14 and a beta of 1.73. The stock has a 50-day moving average price of $29.43 and a 200 day moving average price of $25.65. CAE has a 52 week low of $13.21 and a 52 week high of $31.94. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings data on Thursday, February 11th. The aerospace company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The firm had revenue of $832.40 million during the quarter, compared to analysts’ expectations of $822.43 million. CAE had a return on equity of 9.35% and a net margin of 2.07%. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. On average, equities analysts predict that CAE will post 0.32 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAE. Caisse DE Depot ET Placement DU Quebec increased its holdings in CAE by 114.8% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 9,404,237 shares of the aerospace company’s stock worth $260,351,000 after purchasing an additional 5,025,126 shares during the last quarter. FIL Ltd boosted its position in CAE by 86,641.4% during the 4th quarter. FIL Ltd now owns 3,035,948 shares of the aerospace company’s stock worth $84,121,000 after acquiring an additional 3,032,448 shares during the period. Norges Bank acquired a new position in CAE during the 4th quarter worth $79,964,000. Beck Mack & Oliver LLC acquired a new position in CAE during the 4th quarter worth $32,377,000. Finally, WCM Investment Management LLC acquired a new position in CAE during the 4th quarter worth $25,852,000. 52.25% of the stock is currently owned by institutional investors and hedge funds.

CAE Company Profile

CAE Inc, together with its subsidiaries, provides training solutions for the civil aviation, defence and security, and healthcare markets worldwide. The company's Civil Aviation Training Solutions segment provides training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; flight simulation training devices; and ab initio pilot training and crew sourcing services.

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