CAE (NYSE:CAE) Lowered to “Equal Weight” at Morgan Stanley

Morgan Stanley cut shares of CAE (NYSE:CAE) (TSE:CAE) from an overweight rating to an equal weight rating in a report issued on Friday morning, Marketbeat Ratings reports.

Other equities analysts have also issued research reports about the company. StockNews.com lowered CAE from a buy rating to a hold rating in a research note on Wednesday, May 22nd. Desjardins lowered shares of CAE from a buy rating to a hold rating in a research note on Tuesday, May 21st. Canaccord Genuity Group downgraded shares of CAE from a buy rating to a hold rating in a research note on Wednesday, May 22nd. Royal Bank of Canada raised shares of CAE from a hold rating to a moderate buy rating in a research report on Thursday, August 15th. Finally, Canaccord Genuity Group reissued a hold rating on shares of CAE in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $28.00.

CAE Trading Up 1.2 %

Shares of CAE opened at $17.62 on Friday. CAE has a 12-month low of $15.95 and a 12-month high of $25.04. The firm has a market capitalization of $5.62 billion, a P/E ratio of -24.47, a P/E/G ratio of 1.25 and a beta of 1.67. The firm has a 50-day moving average price of $18.18 and a 200 day moving average price of $19.11. The company has a current ratio of 0.85, a quick ratio of 0.61 and a debt-to-equity ratio of 0.64.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. CAE had a negative net margin of 6.97% and a positive return on equity of 6.10%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $0.18 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that CAE will post 0.86 EPS for the current year.

Institutional Investors Weigh In On CAE

A number of hedge funds have recently added to or reduced their stakes in CAE. Massmutual Trust Co. FSB ADV increased its position in shares of CAE by 142.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 707 shares during the period. Hillsdale Investment Management Inc. raised its position in CAE by 45.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,600 shares of the aerospace company’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of CAE in the 2nd quarter valued at about $33,000. Spire Wealth Management grew its position in shares of CAE by 52.8% during the first quarter. Spire Wealth Management now owns 2,018 shares of the aerospace company’s stock worth $42,000 after buying an additional 697 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of CAE by 86.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock worth $48,000 after buying an additional 1,100 shares during the period. 67.36% of the stock is currently owned by institutional investors and hedge funds.

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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.