CAE Inc. (CAE) Shares Gap Up to $12.00
CAE Inc. (NYSE:CAE) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.90, but opened at $12.00. CAE shares last traded at $12.33, with a volume of 22,028 shares changing hands.
A number of research analysts have issued reports on CAE shares. TD Securities reissued a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of CAE in a report on Friday, May 20th. Zacks Investment Research raised CAE from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, April 12th. Canaccord Genuity reaffirmed a “hold” rating on shares of CAE in a report on Monday, March 28th. TheStreet raised CAE from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of CAE in a report on Tuesday, May 17th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. CAE presently has a consensus rating of “Buy” and a consensus price target of $16.50.
The company has a market capitalization of $3.31 billion and a P/E ratio of 18.74. The stock has a 50-day moving average of $12.48 and a 200-day moving average of $11.47.
CAE (NYSE:CAE) last issued its quarterly earnings data on Thursday, May 19th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The company had revenue of $722.50 million for the quarter, compared to the consensus estimate of $676.55 million. During the same quarter last year, the business earned $0.24 earnings per share. CAE’s revenue was up 14.4% compared to the same quarter last year. Equities research analysts predict that CAE Inc. will post $0.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were given a dividend of $0.0582 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from CAE’s previous quarterly dividend of $0.05.
Several institutional investors recently modified their holdings of CAE. Bank of Montreal Can increased its position in shares of CAE by 62.8% in the fourth quarter. Bank of Montreal Can now owns 1,943,354 shares of the company’s stock worth $21,552,000 after buying an additional 749,978 shares during the period. Columbia Wanger Asset Management LLC increased its position in shares of CAE by 0.8% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 3,739,758 shares of the company’s stock worth $41,484,000 after buying an additional 31,000 shares during the period. State of Wisconsin Investment Board increased its position in shares of CAE by 70.1% in the fourth quarter. State of Wisconsin Investment Board now owns 233,206 shares of the company’s stock worth $2,577,000 after buying an additional 96,100 shares during the period. Finally, OppenheimerFunds Inc. increased its position in shares of CAE by 15.6% in the fourth quarter. OppenheimerFunds Inc. now owns 3,738,057 shares of the company’s stock worth $41,468,000 after buying an additional 503,472 shares during the period.
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