CAE Inc. (CAE) Cut to Sector Perform at Royal Bank Of Canada
Royal Bank Of Canada downgraded shares of CAE Inc. (NYSE:CAE) (TSE:CAE) from an outperform rating to a sector perform rating in a report issued on Friday. They currently have $20.00 price target on the stock, up from their prior price target of $19.00.
CAE has been the topic of a number of other reports. TD Securities reissued a buy rating and issued a $19.00 price objective on shares of CAE in a report on Thursday, August 11th. BMO Capital Markets reissued a market perform rating and issued a $18.00 price objective (up from $17.00) on shares of CAE in a report on Saturday, August 13th. RBC Capital Markets reissued an outperform rating and issued a $19.00 price objective (up from $18.00) on shares of CAE in a report on Saturday, August 13th. Desjardins reaffirmed a buy rating and set a $21.00 target price (up from $20.00) on shares of CAE in a report on Saturday, August 13th. Finally, Scotiabank reaffirmed a sector perform rating and set a $18.50 target price (up from $16.75) on shares of CAE in a report on Saturday, August 13th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $18.44.
CAE (NYSE:CAE) opened at 14.24 on Friday. CAE has a 12-month low of $9.34 and a 12-month high of $14.70. The stock has a market capitalization of $3.83 billion, a PE ratio of 21.91 and a beta of 0.90. The company has a 50-day moving average price of $14.22 and a 200-day moving average price of $13.29.
CAE (NYSE:CAE) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $635.50 million for the quarter, compared to analyst estimates of $494.02 million. CAE had a return on equity of 13.19% and a net margin of 8.90%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. Analysts expect that CAE will post $0.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a $0.0599 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.68%. CAE’s dividend payout ratio (DPR) is presently 36.92%.
Several institutional investors have recently added to or reduced their stakes in CAE. Goldman Sachs Group Inc. increased its position in CAE by 82.3% in the first quarter. Goldman Sachs Group Inc. now owns 828,286 shares of the company’s stock valued at $9,591,000 after buying an additional 374,029 shares during the period. Legal & General Group Plc increased its position in CAE by 47.3% in the first quarter. Legal & General Group Plc now owns 219,344 shares of the company’s stock valued at $2,547,000 after buying an additional 70,400 shares during the period. Magnetar Financial LLC purchased a new position in CAE during the first quarter valued at $271,000. Royal Bank of Canada increased its position in CAE by 37.5% in the first quarter. Royal Bank of Canada now owns 11,345,518 shares of the company’s stock valued at $131,382,000 after buying an additional 3,093,986 shares during the period. Finally, Nexus Investment Management Inc. increased its position in CAE by 1.7% in the second quarter. Nexus Investment Management Inc. now owns 943,375 shares of the company’s stock valued at $11,320,000 after buying an additional 15,900 shares during the period. Institutional investors and hedge funds own 59.81% of the company’s stock.
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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