CAE Inc. (CAE) Rating Lowered to Hold at Zacks Investment Research
CAE Inc. (NYSE:CAE) (TSE:CAE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
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. “
CAE has been the topic of a number of other reports. Royal Bank Of Canada cut shares of CAE from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $19.00 to $20.00 in a research note on Friday, November 11th. AltaCorp Capital reaffirmed a “sector perform” rating and issued a $18.00 price objective (up from $17.00) on shares of CAE in a research note on Saturday, August 13th. CIBC cut shares of CAE from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, November 11th. TD Securities cut shares of CAE from a “buy” rating to a “hold” rating and raised their price objective for the company from $19.00 to $19.50 in a research note on Monday, August 15th. Finally, Macquarie reaffirmed a “neutral” rating 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 given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.44.
Shares of CAE (NYSE:CAE) opened at 14.26 on Monday. The firm has a market capitalization of $3.83 billion, a P/E ratio of 21.94 and a beta of 0.90. CAE has a 52 week low of $9.34 and a 52 week high of $14.70. The firm’s 50-day moving average is $14.22 and its 200 day moving average is $13.35.
CAE (NYSE:CAE) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. CAE had a net margin of 8.90% and a return on equity of 13.19%. The business had revenue of $635.50 million for the quarter, compared to analysts’ expectations of $494.02 million. During the same period in the prior year, the firm earned $0.18 earnings per share. CAE’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that CAE will post $0.72 EPS for the current fiscal 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 issued a dividend of $0.0599 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.68%. CAE’s payout ratio is 36.92%.
Large investors have recently modified their holdings of 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 last quarter. 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 last quarter. 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 last quarter. Hedge funds and other institutional investors 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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