CAE (CAE) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of CAE (NYSE:CAE) (TSE:CAE) from a hold rating to a buy rating in a report published on Monday. Zacks Investment Research currently has $21.00 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. “

A number of other equities research analysts also recently weighed in on the company. Macquarie raised CAE from a neutral rating to an outperform rating in a research report on Wednesday, November 14th. Scotiabank reissued an average rating and set a $31.50 target price on shares of CAE in a research report on Monday, December 3rd. CIBC reissued an average rating and set a $29.00 target price on shares of CAE in a research report on Monday, November 26th. ValuEngine downgraded CAE from a buy rating to a hold rating in a research report on Tuesday, October 30th. Finally, TD Securities reissued a hold rating on shares of CAE in a research report on Monday, November 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $28.13.

Shares of NYSE:CAE traded down $0.19 during midday trading on Monday, hitting $19.64. The company’s stock had a trading volume of 3,197 shares, compared to its average volume of 147,583. The company has a market cap of $4.98 billion, a P/E ratio of 22.79, a P/E/G ratio of 1.99 and a beta of 0.84. CAE has a fifty-two week low of $16.84 and a fifty-two week high of $21.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.35.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings results on Tuesday, November 13th. The aerospace company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $743.80 million for the quarter, compared to the consensus estimate of $661.29 million. CAE had a return on equity of 13.36% and a net margin of 11.83%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. As a group, equities analysts predict that CAE will post 0.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Friday, December 14th were given a dividend of $0.076 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, December 13th. CAE’s dividend payout ratio (DPR) is presently 34.48%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc lifted its stake in CAE by 4.9% during the third quarter. Vanguard Group Inc now owns 7,087,853 shares of the aerospace company’s stock worth $144,025,000 after purchasing an additional 331,851 shares during the period. Marshall Wace LLP bought a new position in CAE during the third quarter worth about $13,199,000. Vanguard Group Inc. lifted its stake in CAE by 4.9% during the third quarter. Vanguard Group Inc. now owns 7,087,853 shares of the aerospace company’s stock worth $144,025,000 after purchasing an additional 331,851 shares during the period. Nordea Investment Management AB bought a new position in CAE during the third quarter worth about $23,534,000. Finally, Neuberger Berman Group LLC lifted its stake in CAE by 998.8% during the third quarter. Neuberger Berman Group LLC now owns 357,931 shares of the aerospace company’s stock worth $7,270,000 after purchasing an additional 325,357 shares during the period. Hedge funds and other institutional investors own 48.14% of the company’s stock.

About CAE

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: Earnings Per Share (EPS) Explained

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