CAE Inc. (CAE) Releases Earnings Results, Meets Estimates
CAE Inc. (NYSE:CAE) issued its earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.16. The business had revenue of $635.50 million for the quarter, compared to analysts’ expectations of $494.02 million. CAE had a return on equity of 13.25% and a net margin of 9.76%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS.
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 company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 20.97 and a beta of 0.90. The firm’s 50-day moving average price is $14.21 and its 200 day moving average price is $13.26.
Hedge funds have recently modified their holdings of the stock. Morgan Stanley boosted its stake in CAE by 19.4% in the third quarter. Morgan Stanley now owns 2,390,958 shares of the company’s stock worth $34,048,000 after buying an additional 387,875 shares in the last quarter. Korea Investment CORP boosted its stake in CAE by 136.8% in the third quarter. Korea Investment CORP now owns 480,887 shares of the company’s stock worth $6,817,000 after buying an additional 277,787 shares in the last quarter. Advisor Group Inc. boosted its stake in CAE by 1,354.9% in the third quarter. Advisor Group Inc. now owns 13,560 shares of the company’s stock worth $193,000 after buying an additional 12,628 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in CAE by 4,146.3% in the third quarter. Tower Research Capital LLC TRC now owns 22,675 shares of the company’s stock worth $323,000 after buying an additional 22,141 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. purchased a new stake in CAE during the third quarter worth approximately $440,000. Institutional investors own 56.68% of the company’s stock.
Several analysts have recently commented on CAE shares. AltaCorp Capital reaffirmed a “sector perform” rating and issued a $18.00 target price (up previously from $17.00) on shares of CAE in a research report on Saturday, August 13th. Zacks Investment Research raised CAE from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, September 20th. TD Securities cut CAE from a “buy” rating to a “hold” rating and raised their target price for the stock from $19.00 to $19.50 in a research report on Monday, August 15th. Macquarie reaffirmed a “neutral” rating on shares of CAE in a research report on Saturday, August 13th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $18.00 target price (up previously from $17.00) on shares of CAE in a research report on Saturday, August 13th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $18.00.
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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