CAE Inc. (CAE) Rating Lowered to Sector Perform at CIBC
CAE Inc. (NYSE:CAE) was downgraded by stock analysts at CIBC from a “sector outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday.
A number of other analysts have also weighed in on CAE. RBC Capital Markets lowered shares of CAE from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $19.00 to $20.00 in a research note on Friday. 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 upped their price objective for the stock from $19.00 to $20.00 in a research note on Friday. Zacks Investment Research raised shares of CAE from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, September 20th. TD Securities lowered shares of CAE from a “buy” rating to a “hold” rating and upped their price objective for the stock from $19.00 to $19.50 in a research note on Monday, August 15th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $18.50 price objective (up from $16.75) on shares of CAE in a research note on Saturday, August 13th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. CAE currently has an average rating of “Hold” and a consensus price target of $18.44.
Shares of CAE (NYSE:CAE) opened at 14.14 on Friday. The stock has a 50 day moving average of $14.22 and a 200-day moving average of $13.29. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 21.75 and a beta of 0.90. CAE has a 52 week low of $9.34 and a 52 week high of $14.70.
CAE (NYSE:CAE) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.16. The firm had revenue of $635.50 million for the quarter, compared to analysts’ expectations of $494.02 million. CAE had a net margin of 8.90% and a return on equity of 13.19%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. On average, analysts anticipate that CAE will post $0.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be given a $0.0599 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 13th. CAE’s payout ratio is currently 36.92%.
Several institutional investors have recently made changes to their positions in CAE. US Bancorp DE raised its position 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 last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of CAE during the second quarter valued at approximately $133,000. Advisor Group Inc. raised its position 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 last quarter. United Services Automobile Association bought a new position in shares of CAE during the third quarter valued at approximately $221,000. Finally, Raymond James & Associates bought a new position in shares of CAE during the second quarter valued at approximately $197,000. 59.81% of the stock is owned by hedge funds and other institutional investors.
CAE Company Profile
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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