CAE (NYSE:CAE) (TSE:CAE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $21.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.64% from the stock’s previous close.
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. “
Separately, ValuEngine raised CAE from a “hold” rating to a “buy” rating in a research report on Friday, September 7th.
Shares of CAE opened at $18.81 on Tuesday. CAE has a 52-week low of $16.84 and a 52-week high of $21.70. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.16 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.42 and a quick ratio of 1.05.
CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Tuesday, August 14th. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $722.00 million during the quarter, compared to the consensus estimate of $729.04 million. CAE had a return on equity of 13.48% and a net margin of 12.36%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS. On average, sell-side analysts forecast that CAE will post 0.94 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in CAE by 81.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,084,053 shares of the aerospace company’s stock valued at $22,280,000 after acquiring an additional 488,042 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in CAE during the 2nd quarter valued at about $510,000. Legal & General Group Plc boosted its holdings in CAE by 41.3% during the 2nd quarter. Legal & General Group Plc now owns 461,977 shares of the aerospace company’s stock valued at $9,591,000 after acquiring an additional 135,062 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in CAE by 43.2% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,172,200 shares of the aerospace company’s stock valued at $32,013,000 after acquiring an additional 353,900 shares during the period. Finally, AMP Capital Investors Ltd boosted its holdings in CAE by 4.7% during the 2nd quarter. AMP Capital Investors Ltd now owns 120,390 shares of the aerospace company’s stock valued at $2,501,000 after acquiring an additional 5,389 shares during the period. 48.89% of the stock is owned by hedge funds and other institutional investors.
CAE Inc, together with its subsidiaries, designs, manufactures, and supplies simulation equipment worldwide. It operates through three segments: Civil Aviation Training Solutions, Defence and Security, and Healthcare. The Civil Aviation Training Solutions segment provides training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; flight simulation training devices; and ab initio pilot training and crew sourcing services.
See Also: What is the Book Value of a Share?
Get a free copy of the Zacks research report on CAE (CAE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CAE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CAE and related companies with MarketBeat.com's FREE daily email newsletter.