Zacks: Brokerages Anticipate CAE Inc (CAE) Will Announce Quarterly Sales of $554.83 Million
Equities research analysts expect that CAE Inc (NYSE:CAE) (TSE:CAE) will post sales of $554.83 million for the current quarter, according to Zacks. Three analysts have issued estimates for CAE’s earnings, with the highest sales estimate coming in at $580.70 million and the lowest estimate coming in at $539.50 million. CAE reported sales of $487.38 million during the same quarter last year, which indicates a positive year over year growth rate of 13.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 9th.
According to Zacks, analysts expect that CAE will report full-year sales of $554.83 million for the current financial year, with estimates ranging from $2.26 billion to $2.32 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.40 billion per share, with estimates ranging from $2.37 billion to $2.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $699.76 million. During the same period in the previous year, the firm earned $0.26 EPS. The company’s revenue was up 7.3% compared to the same quarter last year.
Several research analysts have recently weighed in on CAE shares. BidaskClub cut shares of CAE from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Zacks Investment Research cut shares of CAE from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. BMO Capital Markets upgraded shares of CAE from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research note on Wednesday, August 30th. They noted that the move was a valuation call. Finally, TD Securities cut shares of CAE from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $20.67.
Shares of CAE (NYSE CAE) opened at 16.53 on Monday. The company has a market cap of $4.45 billion, a PE ratio of 22.83 and a beta of 0.87. CAE has a one year low of $13.57 and a one year high of $17.88. The firm’s 50-day moving average is $16.79 and its 200-day moving average is $16.04.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.071 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.72%. This is an increase from CAE’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, September 14th. CAE’s dividend payout ratio (DPR) is presently 34.29%.
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of CAE by 47.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,777,500 shares of the aerospace company’s stock valued at $27,180,000 after purchasing an additional 574,900 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of CAE by 42.5% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 42,135 shares of the aerospace company’s stock valued at $642,000 after purchasing an additional 12,559 shares during the period. USS Investment Management Ltd raised its position in shares of CAE by 0.7% during the 1st quarter. USS Investment Management Ltd now owns 4,162,928 shares of the aerospace company’s stock valued at $63,670,000 after purchasing an additional 28,800 shares during the period. UBS Group AG raised its position in shares of CAE by 80.7% during the 1st quarter. UBS Group AG now owns 394,973 shares of the aerospace company’s stock valued at $6,040,000 after purchasing an additional 176,448 shares during the period. Finally, Morgan Stanley raised its position in shares of CAE by 12.0% during the 1st quarter. Morgan Stanley now owns 3,415,109 shares of the aerospace company’s stock valued at $52,217,000 after purchasing an additional 366,337 shares during the period. Hedge funds and other 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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