CAE Inc. (CAE) Sees Strong Trading Volume
Shares of CAE Inc. (NYSE:CAE) saw strong trading volume on Wednesday . 119,919 shares were traded during mid-day trading, an increase of 67% from the previous session’s volume of 71,958 shares.The stock last traded at $12.99 and had previously closed at $12.89.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of CAE from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, April 12th. Canaccord Genuity restated a “hold” rating on shares of CAE in a report on Monday, March 28th. TD Securities restated a “buy” rating and issued a $19.00 target price (up previously from $17.00) on shares of CAE in a report on Friday, May 20th. BMO Capital Markets lowered shares of CAE from an “outperform” rating to a “market perform” rating in a report on Friday, May 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $17.00 target price on shares of CAE in a report on Tuesday, May 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $16.67.
The company’s 50-day moving average price is $12.59 and its 200-day moving average price is $11.57. The firm has a market cap of $3.50 billion and a price-to-earnings ratio of 19.74.
CAE (NYSE:CAE) last released its earnings results 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. During the same period in the previous year, the company earned $0.24 EPS. The business had revenue of $722.50 million for the quarter, compared to analysts’ expectations of $676.55 million. CAE’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, analysts expect that CAE Inc. will post $0.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were issued a dividend of $0.0582 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from CAE’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, June 13th.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Bank of Montreal Can boosted 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 valued at $21,552,000 after buying an additional 749,978 shares during the last quarter. OppenheimerFunds Inc. boosted 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 valued at $41,468,000 after buying an additional 503,472 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted 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 valued at $2,577,000 after buying an additional 96,100 shares during the last quarter.
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