Zacks Investment Research Upgrades CAE Inc. (CAE) to “Buy”
CAE Inc. (NYSE:CAE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $16.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 14.78% from the company’s previous close.
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. “
Other analysts also recently issued research reports about the stock. AltaCorp Capital reissued a “sector perform” rating and set a $18.00 price objective (up previously from $17.00) on shares of CAE in a report on Saturday, August 13th. TD Securities downgraded shares of CAE from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $19.00 to $19.50 in a report on Monday, August 15th. TheStreet raised shares of CAE from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. Macquarie reissued a “neutral” rating on shares of CAE in a report on Saturday, August 13th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $18.00 price objective (up previously from $17.00) on shares of CAE in a report on Saturday, August 13th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $18.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/zacks-investment-research-upgrades-cae-inc-cae-to-buy-2.html
Shares of CAE (NYSE:CAE) traded up 1.01% during mid-day trading on Tuesday, hitting $13.94. 41,269 shares of the stock were exchanged. The company has a 50-day moving average of $13.90 and a 200 day moving average of $12.55. CAE has a one year low of $9.34 and a one year high of $14.63. The stock has a market cap of $3.75 billion, a PE ratio of 19.61 and a beta of 1.08.
CAE (NYSE:CAE) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. CAE had a net margin of 9.76% and a return on equity of 13.25%. The business had revenue of $651.60 million for the quarter, compared to analyst estimates of $464.69 million. During the same period in the previous year, the business posted $0.19 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. On average, equities analysts predict that CAE will post $0.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.0607 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, September 13th. This is an increase from CAE’s previous quarterly dividend of $0.06. CAE’s dividend payout ratio is 35.21%.
Several hedge funds have recently made changes to their positions in CAE. Mondrian Investment Partners LTD increased its position in shares of CAE by 6.4% in the second quarter. Mondrian Investment Partners LTD now owns 16,284,223 shares of the company’s stock valued at $254,197,000 after buying an additional 981,915 shares during the last quarter. Royal Bank of Canada increased its position in shares of CAE by 37.5% in the first quarter. Royal Bank of Canada now owns 11,345,518 shares of the company’s stock valued at $131,382,000 after buying an additional 3,093,986 shares during the last quarter. TD Asset Management Inc. increased its position in shares of CAE by 23.8% in the second quarter. TD Asset Management Inc. now owns 7,445,072 shares of the company’s stock valued at $89,488,000 after buying an additional 1,431,024 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of CAE during the second quarter valued at about $75,492,000. Finally, Vanguard Group Inc. increased its position in shares of CAE by 6.4% in the second quarter. Vanguard Group Inc. now owns 4,920,163 shares of the company’s stock valued at $59,485,000 after buying an additional 294,586 shares during the last quarter. 56.75% of the stock is currently owned by institutional investors.
Receive News & Ratings for CAE Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CAE Inc. and related companies with MarketBeat.com's FREE daily email newsletter.