CAE Inc. (CAE) Sees Unusually-High Trading Volume
CAE Inc. (NYSE:CAE) shares saw strong trading volume on Wednesday . 119,846 shares changed hands during mid-day trading, an increase of 116% from the previous session’s volume of 55,374 shares.The stock last traded at $12.91 and had previously closed at $12.81.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of 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. TD Securities reissued a “buy” rating and set a $19.00 target price (up from $17.00) on shares of CAE in a research note on Friday, May 20th. BMO Capital Markets lowered shares of CAE from an “outperform” rating to a “market perform” rating in a research note on Friday, May 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $17.00 target price on shares of CAE in a research note on Tuesday, May 17th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.50.
The company has a 50 day moving average price of $12.51 and a 200-day moving average price of $11.50. The company has a market cap of $3.46 billion and a P/E ratio of 19.57.
CAE (NYSE:CAE) last announced its quarterly earnings data on Thursday, May 19th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business earned $722.50 million during the quarter, compared to analyst estimates of $676.55 million. During the same quarter in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. Analysts anticipate that CAE Inc. will post $0.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were paid a $0.0582 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, June 13th. This is a positive change from CAE’s previous quarterly dividend of $0.05.
Several large investors have recently bought and sold shares of the company. Columbia Wanger Asset Management LLC raised its stake in CAE by 0.8% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 3,739,758 shares of the company’s stock valued at $41,484,000 after buying an additional 31,000 shares during the last quarter. State of Wisconsin Investment Board raised its stake in CAE by 70.1% in the fourth quarter. State of Wisconsin Investment Board now owns 233,206 shares of the company’s stock valued at $2,577,000 after buying an additional 96,100 shares during the last quarter. OppenheimerFunds Inc. raised its stake in CAE by 15.6% in the fourth quarter. OppenheimerFunds Inc. now owns 3,738,057 shares of the company’s stock valued at $41,468,000 after buying an additional 503,472 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in CAE by 62.8% in the fourth quarter. Bank of Montreal Can now owns 1,943,354 shares of the company’s stock valued at $21,552,000 after buying an additional 749,978 shares during the last quarter.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.