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 report issued on Tuesday. The firm currently has a $16.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 14.78% from the stock’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. “
Several other equities analysts have also recently commented on CAE. Macquarie raised shares of CAE from a “neutral” rating to an “outperform” rating in a research report on Friday, May 27th. TheStreet raised shares of CAE from a “hold” rating to a “buy” rating in a research report on Wednesday, June 8th. TD Securities reaffirmed a “buy” rating and set a $19.00 price target on shares of CAE in a research report on Thursday, August 11th. AltaCorp Capital reaffirmed a “sector perform” rating and set a $18.00 price target (up previously from $17.00) on shares of CAE in a research report on Saturday, August 13th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $18.00 price target (up previously from $17.00) on shares of CAE in a research 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. CAE presently has an average rating of “Buy” and an average target price of $18.00.
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Shares of CAE (NYSE:CAE) traded up 1.01% during midday trading on Tuesday, reaching $13.94. The company’s stock had a trading volume of 41,269 shares. The stock has a 50 day moving average of $13.90 and a 200-day moving average of $12.55. The company has a market capitalization of $3.75 billion, a P/E ratio of 19.61 and a beta of 1.08. CAE has a 1-year low of $9.34 and a 1-year high of $14.63.
CAE (NYSE:CAE) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company earned $651.60 million during the quarter, compared to analysts’ expectations of $464.69 million. CAE had a net margin of 9.76% and a return on equity of 13.25%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 EPS. On average, equities research analysts anticipate that CAE will post $0.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.0607 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.74%. This is a positive change from CAE’s previous quarterly dividend of $0.06. CAE’s dividend payout ratio (DPR) is presently 35.21%.
Large investors have recently made changes to their positions in the stock. Aperio Group LLC raised its stake in shares of CAE by 4.0% in the first quarter. Aperio Group LLC now owns 90,358 shares of the company’s stock valued at $1,046,000 after buying an additional 3,479 shares during the last quarter. Mondrian Investment Partners LTD raised its position in CAE by 11.2% in the first quarter. Mondrian Investment Partners LTD now owns 15,302,308 shares of the company’s stock worth $229,841,000 after buying an additional 1,535,316 shares in the last quarter. USS Investment Management Ltd raised its position in CAE by 8.6% in the first quarter. USS Investment Management Ltd now owns 3,190,353 shares of the company’s stock worth $37,020,000 after buying an additional 251,404 shares in the last quarter. Canada Pension Plan Investment Board raised its position in CAE by 375,339.7% in the first quarter. Canada Pension Plan Investment Board now owns 435,510 shares of the company’s stock worth $5,057,000 after buying an additional 435,394 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in CAE by 1,083.9% in the first quarter. 1832 Asset Management L.P. now owns 1,416,213 shares of the company’s stock worth $23,385,000 after buying an additional 1,296,589 shares in the last quarter. Institutional investors own 56.75% of the company’s stock.
CAE Company Profile
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