$554.83 Million in Sales Expected for CAE Inc (CAE) This Quarter
Wall Street brokerages expect that CAE Inc (NYSE:CAE) (TSE:CAE) will post $554.83 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for CAE’s earnings, with the lowest sales estimate coming in at $539.50 million and the highest estimate coming in at $580.70 million. CAE posted sales of $487.38 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.8%. The business is scheduled to report 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 year, with estimates ranging from $2.26 billion to $2.32 billion. For the next 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 sell-side analysts that that provide coverage for CAE.
CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly 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). The business had revenue of $699.00 million for the quarter, compared to the consensus estimate of $699.76 million. CAE had a return on equity of 13.24% and a net margin of 8.96%. CAE’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share.
Several equities analysts have recently issued reports on CAE shares. BMO Capital Markets raised CAE from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research note on Wednesday, August 30th. They noted that the move was a valuation call. BidaskClub lowered CAE from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Finally, Zacks Investment Research upgraded CAE from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. CAE currently has a consensus rating of “Hold” and an average price target of $20.67.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of CAE by 0.7% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,557 shares of the aerospace company’s stock valued at $130,000 after purchasing an additional 57 shares in the last quarter. Comerica Bank boosted its position in shares of CAE by 1.3% during the first quarter. Comerica Bank now owns 15,399 shares of the aerospace company’s stock valued at $234,000 after purchasing an additional 203 shares in the last quarter. Account Management LLC boosted its position in shares of CAE by 0.5% during the second quarter. Account Management LLC now owns 197,550 shares of the aerospace company’s stock valued at $3,406,000 after purchasing an additional 1,000 shares in the last quarter. State of Wisconsin Investment Board boosted its position in shares of CAE by 0.6% during the second quarter. State of Wisconsin Investment Board now owns 286,706 shares of the aerospace company’s stock valued at $4,936,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its position in shares of CAE by 1.4% during the second quarter. Cidel Asset Management Inc. now owns 164,753 shares of the aerospace company’s stock valued at $2,837,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors own 53.43% of the company’s stock.
CAE (NYSE CAE) traded down 0.06% during trading on Thursday, hitting $17.25. The company’s stock had a trading volume of 102,517 shares. CAE has a 12 month low of $13.75 and a 12 month high of $17.88. The firm has a 50 day moving average of $16.76 and a 200 day moving average of $16.41. The firm has a market cap of $4.64 billion, a P/E ratio of 22.82 and a beta of 0.87.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.071 per share. The ex-dividend date of this dividend was Thursday, September 14th. This is a positive change from CAE’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.64%. CAE’s payout ratio is currently 41.43%.
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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