CAE Inc (CAE) Raised to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of CAE Inc (NYSE:CAE) (TSE:CAE) from a hold rating to a strong-buy rating in a report issued on Thursday. Zacks Investment Research currently has $19.00 price objective on the aerospace company’s stock.
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. “
Several other equities research analysts have also commented on CAE. BidaskClub lowered shares of CAE from a hold rating to a sell rating in a research note on Monday, July 31st. BMO Capital Markets upgraded shares of CAE from a market perform rating to an outperform rating and set a $23.00 price objective for the company in a research note on Wednesday. They noted that the move was a valuation call. Finally, TD Securities lowered shares of CAE from a buy rating to a hold rating in a research note on Thursday, June 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $20.67.
CAE (CAE) opened at 16.53 on Thursday. The company has a market cap of $4.45 billion, a PE ratio of 22.83 and a beta of 0.87. The company’s 50-day moving average price is $16.79 and its 200-day moving average price is $16.04. CAE has a 12-month low of $13.57 and a 12-month high of $17.88.
CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings data on Thursday, August 10th. The aerospace company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The firm had revenue of $699 million during the quarter, compared to analysts’ expectations of $699.76 million. CAE had a net margin of 8.96% and a return on equity of 13.24%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. Equities analysts anticipate that CAE will post $0.86 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.071 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.72%. This is a positive change from CAE’s previous quarterly dividend of $0.06. CAE’s dividend payout ratio (DPR) is presently 34.29%.
Large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC raised its stake in shares of CAE by 44.4% in the first quarter. Parametric Portfolio Associates LLC now owns 285,738 shares of the aerospace company’s stock valued at $4,369,000 after buying an additional 87,821 shares during the last quarter. Tdam USA Inc. raised its stake in shares of CAE by 6.7% in the first quarter. Tdam USA Inc. now owns 18,995 shares of the aerospace company’s stock valued at $289,000 after buying an additional 1,200 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of CAE during the first quarter valued at about $3,912,000. World Asset Management Inc raised its stake in shares of CAE by 0.3% in the first quarter. World Asset Management Inc now owns 16,679 shares of the aerospace company’s stock valued at $255,000 after buying an additional 49 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of CAE by 1.3% in the first quarter. Comerica Bank now owns 15,399 shares of the aerospace company’s stock valued at $234,000 after buying an additional 203 shares during the last quarter. Institutional investors own 53.31% of the company’s stock.
CAE Company Profile
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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