Cae Inc (NYSE:CAE) (TSE:CAE) – Analysts at Desjardins upped their FY2020 earnings estimates for shares of CAE in a research note issued on Monday. Desjardins analyst B. Poirier now forecasts that the aerospace company will post earnings of $1.03 per share for the year, up from their previous forecast of $1.02.
Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada upgraded CAE from a “sector perform” rating to an “outperform” rating in a report on Monday. Zacks Investment Research downgraded CAE from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. ValuEngine downgraded CAE from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Finally, AltaCorp Capital restated a “hold” rating and issued a $21.00 price target on shares of CAE in a report on Sunday, November 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. CAE currently has an average rating of “Hold” and an average price target of $21.33.
CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings data on Friday, February 9th. The aerospace company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CAE had a return on equity of 13.24% and a net margin of 11.31%. The business had revenue of $704.40 million during the quarter, compared to the consensus estimate of $729.98 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a $0.071 dividend. This is an increase from CAE’s previous quarterly dividend of $0.07. This represents a $0.28 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, March 14th. CAE’s dividend payout ratio is 31.87%.
CAE declared that its board has authorized a stock repurchase program on Friday, February 9th that permits the company to buyback 5,350,000 shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in CAE. Advisor Group Inc. boosted its position in shares of CAE by 89.8% during the second quarter. Advisor Group Inc. now owns 7,091 shares of the aerospace company’s stock worth $122,000 after buying an additional 3,354 shares during the period. Financial Gravity Companies Inc. acquired a new position in shares of CAE during the fourth quarter worth about $132,000. Dean Capital Investments Management LLC acquired a new position in shares of CAE during the fourth quarter worth about $338,000. Alliancebernstein L.P. boosted its position in shares of CAE by 13.1% during the second quarter. Alliancebernstein L.P. now owns 22,113 shares of the aerospace company’s stock worth $381,000 after buying an additional 2,568 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of CAE during the fourth quarter worth about $493,000. Institutional investors own 52.12% 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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