CAE (NYSE:CAE) Issues Quarterly Earnings Results

CAE (NYSE:CAE) (TSE:CAE) released its earnings results on Thursday. The aerospace company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02, Zacks reports. The company had revenue of $911.78 million for the quarter, compared to the consensus estimate of $922.62 million. CAE had a net margin of 7.70% and a return on equity of 7.81%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS.

CAE Stock Down 3.7%

NYSE CAE traded down $1.15 during trading hours on Friday, hitting $30.23. 2,062,774 shares of the company traded hands, compared to its average volume of 652,644. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.59 and a current ratio of 0.83. The business’s 50-day moving average is $31.43 and its 200-day moving average is $28.90. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 36.43, a P/E/G ratio of 2.37 and a beta of 1.11. CAE has a twelve month low of $20.36 and a twelve month high of $34.24.

Hedge Funds Weigh In On CAE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAE. Morgan Stanley grew its stake in shares of CAE by 114.0% during the fourth quarter. Morgan Stanley now owns 2,059,644 shares of the aerospace company’s stock worth $62,654,000 after buying an additional 1,097,193 shares during the last quarter. Goldman Sachs Group Inc. grew its position in CAE by 142.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company’s stock worth $42,036,000 after acquiring an additional 1,004,820 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in CAE in the 4th quarter worth about $29,165,000. Federation des caisses Desjardins du Quebec increased its holdings in CAE by 58.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,804,400 shares of the aerospace company’s stock worth $54,819,000 after purchasing an additional 664,975 shares in the last quarter. Finally, Legal & General Group Plc raised its position in CAE by 45.3% in the third quarter. Legal & General Group Plc now owns 1,879,073 shares of the aerospace company’s stock valued at $55,654,000 after purchasing an additional 585,465 shares during the last quarter. 67.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on CAE shares. TD Securities reaffirmed a “buy” rating on shares of CAE in a research note on Monday, January 12th. Scotiabank reissued an “outperform” rating on shares of CAE in a report on Wednesday, January 21st. Weiss Ratings raised CAE from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada decreased their target price on CAE from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. Finally, Zacks Research raised CAE from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, CAE has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

About CAE

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.