CAE Inc (CAE) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of CAE Inc (NYSE:CAE) (TSE:CAE) from a buy rating to a hold rating in a research note released on Monday.
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. “
CAE has been the topic of a number of other reports. BMO Capital Markets upgraded CAE from a market perform rating to an outperform rating and set a $23.00 price objective on the stock in a research report on Wednesday, August 30th. They noted that the move was a valuation call. BidaskClub downgraded CAE from a sell rating to a strong sell rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. CAE has a consensus rating of Hold and a consensus price target of $20.67.
CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Thursday, August 10th. The aerospace company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). CAE had a net margin of 8.96% and a return on equity of 13.24%. The company had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $699.76 million. During the same quarter last year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cidel Asset Management Inc. grew its stake in shares of CAE by 7.7% during the third quarter. Cidel Asset Management Inc. now owns 177,513 shares of the aerospace company’s stock valued at $3,097,000 after buying an additional 12,760 shares during the last quarter. Intact Investment Management Inc. bought a new position in shares of CAE during the third quarter valued at approximately $1,468,000. Aperio Group LLC grew its stake in shares of CAE by 12.5% during the third quarter. Aperio Group LLC now owns 329,095 shares of the aerospace company’s stock valued at $5,769,000 after buying an additional 36,610 shares during the last quarter. Shell Asset Management Co. grew its stake in shares of CAE by 242.1% during the third quarter. Shell Asset Management Co. now owns 77,747 shares of the aerospace company’s stock valued at $1,056,000 after buying an additional 55,019 shares during the last quarter. Finally, Eqis Capital Management Inc. grew its stake in shares of CAE by 13.9% during the third quarter. Eqis Capital Management Inc. now owns 71,203 shares of the aerospace company’s stock valued at $1,248,000 after buying an additional 8,669 shares during the last quarter. 53.80% of the stock is currently owned by hedge funds and other institutional investors.
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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