CAE Inc. (CAE) Cut to “Sector Perform” at RBC Capital Markets
CAE Inc. (NYSE:CAE) was downgraded by analysts at RBC Capital Markets from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday.
A number of other research analysts have also recently issued reports on CAE. Royal Bank Of Canada cut shares of CAE from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $19.00 to $20.00 in a research report on Friday. Scotiabank reissued a “sector perform” rating and set a $18.50 price target (up from $16.75) on shares of CAE in a research report on Saturday, August 13th. Desjardins reissued a “buy” rating and set a $21.00 price target (up from $20.00) on shares of CAE in a research report on Saturday, August 13th. Macquarie reissued a “neutral” rating on shares of CAE in a research report on Saturday, August 13th. Finally, AltaCorp Capital reissued a “sector perform” rating and set a $18.00 price target (up from $17.00) on shares of CAE in a research report on Saturday, August 13th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $18.33.
Shares of CAE (NYSE:CAE) opened at 14.64 on Friday. CAE has a 12 month low of $9.34 and a 12 month high of $14.70. The firm has a market capitalization of $3.93 billion, a P/E ratio of 20.97 and a beta of 0.90. The firm’s 50-day moving average is $14.23 and its 200 day moving average is $13.27.
CAE (NYSE:CAE) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. CAE had a net margin of 9.76% and a return on equity of 13.25%. The company earned $635.50 million during the quarter, compared to analysts’ expectations of $494.02 million. During the same period last year, the company posted $0.18 EPS. CAE’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that CAE will post $0.73 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in shares of CAE by 38.2% in the third quarter. US Bancorp DE now owns 8,653 shares of the company’s stock valued at $123,000 after buying an additional 2,390 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CAE during the second quarter valued at about $133,000. Advisor Group Inc. raised its stake in shares of CAE by 1,354.9% in the third quarter. Advisor Group Inc. now owns 13,560 shares of the company’s stock valued at $193,000 after buying an additional 12,628 shares during the period. Raymond James & Associates acquired a new stake in shares of CAE during the second quarter valued at about $197,000. Finally, World Asset Management Inc raised its stake in shares of CAE by 8.3% in the second quarter. World Asset Management Inc now owns 16,766 shares of the company’s stock valued at $203,000 after buying an additional 1,284 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.
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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