CAE (NYSE:CAE) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of CAE (NYSE:CAE) (TSE:CAE) from a buy rating to a hold rating in a report released on Friday.

CAE has been the topic of a number of other reports. Royal Bank of Canada raised shares of CAE from a hold rating to a moderate buy rating in a report on Thursday, August 15th. Jefferies Financial Group started coverage on CAE in a research report on Thursday, June 6th. They set a hold rating and a $21.00 price target for the company. Finally, Morgan Stanley cut CAE from an overweight rating to an equal weight rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $28.00.

CAE Stock Performance

CAE stock opened at $18.35 on Friday. The firm has a market cap of $5.86 billion, a PE ratio of -25.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.67. CAE has a 1-year low of $15.95 and a 1-year high of $23.62. The stock has a 50-day moving average price of $17.73 and a 200-day moving average price of $18.71. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings data on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. CAE had a negative net margin of 7.38% and a positive return on equity of 5.96%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that CAE will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On CAE

Institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV lifted its stake in shares of CAE by 142.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock valued at $25,000 after buying an additional 707 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in CAE by 3.5% during the 2nd quarter. Confluence Investment Management LLC now owns 25,098 shares of the aerospace company’s stock worth $466,000 after purchasing an additional 857 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in CAE by 2.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 33,517 shares of the aerospace company’s stock worth $632,000 after purchasing an additional 871 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in CAE by 11.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 10,162 shares of the aerospace company’s stock worth $210,000 after purchasing an additional 1,025 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position 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 valued at $48,000 after buying an additional 1,100 shares during the period. 67.36% of the stock is owned by hedge funds and other institutional investors.

CAE Company Profile

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.