CAE Inc (CAE) Expected to Announce Quarterly Sales of $554.83 Million
Wall Street analysts expect that CAE Inc (NYSE:CAE) (TSE:CAE) will post $554.83 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for CAE’s earnings, with estimates ranging from $539.50 million to $580.70 million. CAE reported sales of $487.38 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.8%. The business is scheduled to issue its next earnings results on Thursday, November 9th.
On average, analysts expect that CAE will report full-year sales of $554.83 million for the current year, with estimates ranging from $2.26 billion to $2.32 billion. For the next financial year, analysts expect that the business will post sales of $2.40 billion per share, with estimates ranging from $2.37 billion to $2.43 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for CAE.
CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Thursday, August 10th. The aerospace company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.01. CAE had a net margin of 8.96% and a return on equity of 13.24%. The business had revenue of $699 million for the quarter, compared to analyst estimates of $699.76 million. During the same quarter last year, the firm posted $0.26 earnings per share. CAE’s revenue was up 7.3% on a year-over-year basis.
Several equities analysts recently commented on CAE shares. Zacks Investment Research downgraded shares of CAE from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub upgraded shares of CAE from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. Finally, TD Securities downgraded 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, four have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $19.50.
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A number of large investors have recently made changes to their positions in CAE. Mackenzie Financial Corp increased its stake in shares of CAE by 17.7% in the first quarter. Mackenzie Financial Corp now owns 7,332,489 shares of the aerospace company’s stock worth $112,114,000 after buying an additional 1,105,110 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of CAE by 6.0% in the second quarter. TD Asset Management Inc. now owns 6,597,892 shares of the aerospace company’s stock worth $113,597,000 after buying an additional 376,314 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of CAE by 4.7% in the second quarter. Vanguard Group Inc. now owns 5,901,367 shares of the aerospace company’s stock worth $101,740,000 after buying an additional 266,410 shares during the last quarter. USS Investment Management Ltd increased its stake in shares of CAE by 0.7% in the first quarter. USS Investment Management Ltd now owns 4,162,928 shares of the aerospace company’s stock worth $63,670,000 after buying an additional 28,800 shares during the last quarter. Finally, FMR LLC increased its stake in shares of CAE by 2.4% in the first quarter. FMR LLC now owns 3,692,900 shares of the aerospace company’s stock worth $56,427,000 after buying an additional 87,670 shares during the last quarter. Hedge funds and other institutional investors own 56.12% of the company’s stock.
CAE (NYSE:CAE) opened at 16.43 on Thursday. The company has a market capitalization of $4.37 billion, a P/E ratio of 22.45 and a beta of 0.86. CAE has a one year low of $13.57 and a one year high of $17.88. The company’s 50-day moving average is $17.17 and its 200 day moving average is $15.88.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.071 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.73%. This is an increase from CAE’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, September 14th. CAE’s dividend payout ratio is presently 34.29%.
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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