CAE (NYSE:CAE) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

CAE (NYSE:CAE) (TSE:CAE) released its quarterly earnings results on Thursday. The aerospace company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01, Zacks reports. CAE had a net margin of 7.70% and a return on equity of 7.75%.

CAE Stock Up 0.7%

Shares of CAE traded up $0.18 during trading hours on Thursday, hitting $26.91. The company had a trading volume of 488,308 shares, compared to its average volume of 775,806. CAE has a 52-week low of $24.57 and a 52-week high of $34.24. The firm has a fifty day moving average price of $26.61 and a 200-day moving average price of $28.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.91. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 32.42, a P/E/G ratio of 3.02 and a beta of 1.03.

Hedge Funds Weigh In On CAE

A number of hedge funds have recently bought and sold shares of the business. FIL Ltd increased its position in shares of CAE by 21.9% during the 4th quarter. FIL Ltd now owns 10,422,522 shares of the aerospace company’s stock valued at $316,955,000 after purchasing an additional 1,874,739 shares during the last quarter. Morgan Stanley increased its position in shares of CAE by 114.0% during the 4th quarter. Morgan Stanley now owns 2,059,644 shares of the aerospace company’s stock valued at $62,654,000 after purchasing an additional 1,097,193 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of CAE by 142.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company’s stock valued at $42,036,000 after purchasing an additional 1,004,820 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of CAE during the 4th quarter valued at about $29,165,000. Finally, Federation des caisses Desjardins du Quebec increased its position in shares of CAE by 58.4% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,804,400 shares of the aerospace company’s stock valued at $54,819,000 after purchasing an additional 664,975 shares during the last quarter. Hedge funds and other institutional investors own 67.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CAE shares. Stifel Nicolaus started coverage on shares of CAE in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of CAE in a report on Tuesday, February 17th. TD Securities restated a “buy” rating on shares of CAE in a report on Tuesday, February 17th. Zacks Research upgraded shares of CAE from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Canaccord Genuity Group started coverage on shares of CAE in a report on Friday, March 13th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, CAE has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

CAE Company Profile

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.