Zacks Investment Research upgraded shares of CAE (NYSE:CAE) (TSE:CAE) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $22.00 price target on the aerospace company’s stock.
According to Zacks, “CAE is a world leader in providing simulation and modelling technologies, and integrated training services to the civil aviation industry and defence forces around the globe. The Company design, manufacture and supply simulation equipment and offer training and services. This includes integrated modelling, simulation and training solutions for commercial airlines, business aircraft operators, aircraft manufacturers and military organizations and a global network of training centres for pilots, and in some instances, cabin crew and maintenance workers. “
Several other analysts have also weighed in on the stock. ValuEngine upgraded shares of CAE from a hold rating to a buy rating in a research report on Thursday, March 1st. Royal Bank of Canada upgraded shares of CAE from a sector perform rating to an outperform rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. CAE has an average rating of Hold and an average price target of $22.00.
Shares of CAE stock opened at $18.75 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. CAE has a twelve month low of $15.06 and a twelve month high of $19.28. The stock has a market cap of $5,125.25, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.99 and a beta of 0.77.
CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Friday, February 9th. The aerospace company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. CAE had a net margin of 11.31% and a return on equity of 13.03%. The business had revenue of $704.40 million for the quarter, compared to analyst estimates of $729.98 million. During the same period in the previous year, the business earned $0.26 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. research analysts forecast that CAE will post 0.84 earnings per share for the current year.
CAE announced that its Board of Directors has authorized a stock repurchase plan on Friday, February 9th that allows the company to buyback 5,350,000 outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were given a dividend of $0.071 per share. This is a positive change from CAE’s previous quarterly dividend of $0.07. This represents a $0.28 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Wednesday, March 14th. CAE’s payout ratio is 36.71%.
Several institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its position in shares of CAE by 35.2% during the 4th quarter. Mackenzie Financial Corp now owns 7,948,059 shares of the aerospace company’s stock valued at $147,516,000 after acquiring an additional 2,068,070 shares in the last quarter. CGOV Asset Management boosted its position in CAE by 0.4% in the fourth quarter. CGOV Asset Management now owns 4,681,435 shares of the aerospace company’s stock valued at $109,312,000 after buying an additional 18,423 shares in the last quarter. USS Investment Management Ltd boosted its position in CAE by 46.9% in the fourth quarter. USS Investment Management Ltd now owns 4,010,230 shares of the aerospace company’s stock valued at $74,641,000 after buying an additional 1,279,612 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in CAE by 33.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,474,174 shares of the aerospace company’s stock valued at $45,920,000 after buying an additional 616,203 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its position in CAE by 0.5% in the fourth quarter. CIBC World Markets Inc. now owns 1,124,011 shares of the aerospace company’s stock valued at $20,862,000 after buying an additional 5,299 shares in the last quarter. Institutional investors and hedge funds own 52.09% of the company’s stock.
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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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