Bank of Nova Scotia Purchases 442,467 Shares of CAE Inc $CAE

Bank of Nova Scotia raised its position in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 23.4% in the second quarter, HoldingsChannel reports. The firm owned 2,331,094 shares of the aerospace company’s stock after acquiring an additional 442,467 shares during the period. Bank of Nova Scotia’s holdings in CAE were worth $68,299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Employees Retirement System of Texas bought a new stake in shares of CAE in the second quarter valued at about $80,000. Bessemer Group Inc. raised its holdings in shares of CAE by 360.9% in the 2nd quarter. Bessemer Group Inc. now owns 4,402 shares of the aerospace company’s stock valued at $129,000 after purchasing an additional 3,447 shares in the last quarter. State of Wyoming lifted its position in shares of CAE by 39.4% in the 1st quarter. State of Wyoming now owns 8,431 shares of the aerospace company’s stock worth $207,000 after purchasing an additional 2,385 shares during the period. Vestmark Advisory Solutions Inc. bought a new position in shares of CAE during the second quarter valued at approximately $236,000. Finally, PNC Financial Services Group Inc. increased its holdings in CAE by 11.1% during the second quarter. PNC Financial Services Group Inc. now owns 8,510 shares of the aerospace company’s stock valued at $249,000 after buying an additional 851 shares during the period. Institutional investors own 67.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Scotiabank restated an “outperform” rating on shares of CAE in a report on Thursday, August 14th. Zacks Research cut CAE from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. TD Securities upgraded CAE from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of CAE in a research report on Monday, December 1st. Finally, Wall Street Zen cut shares of CAE from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

CAE Stock Performance

Shares of CAE stock opened at $27.61 on Tuesday. The company has a 50 day moving average price of $27.47 and a 200 day moving average price of $27.59. The firm has a market capitalization of $8.88 billion, a P/E ratio of 28.47, a PEG ratio of 2.07 and a beta of 1.19. The company has a quick ratio of 0.59, a current ratio of 0.83 and a debt-to-equity ratio of 0.60. CAE Inc has a 52 week low of $20.36 and a 52 week high of $30.13.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings results on Tuesday, November 11th. The aerospace company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $897.99 million for the quarter, compared to analyst estimates of $1.13 billion. CAE had a net margin of 8.98% and a return on equity of 7.60%. CAE’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Sell-side analysts expect that CAE Inc will post 0.83 EPS for the current year.

About CAE

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.