CAE (NYSE:CAE) Shares Gap Up – Here’s What Happened

CAE Inc. (NYSE:CAE) (TSE:CAE)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $19.33, but opened at $21.11. CAE shares last traded at $20.95, with a volume of 115,363 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley downgraded CAE from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 16th. Royal Bank of Canada raised CAE from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com downgraded CAE from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.00.

CAE Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $18.37 and its 200 day simple moving average is $18.53. The company has a market capitalization of $6.66 billion, a P/E ratio of -27.50, a P/E/G ratio of 1.43 and a beta of 1.67.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share for the quarter, topping 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 business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $0.18 earnings per share. CAE’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that CAE Inc. will post 0.85 EPS for the current year.

Institutional Trading of CAE

Hedge funds have recently bought and sold shares of the stock. Confluence Investment Management LLC boosted its position in shares of CAE by 3.5% in the second quarter. Confluence Investment Management LLC now owns 25,098 shares of the aerospace company’s stock valued at $466,000 after acquiring an additional 857 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of 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 buying an additional 871 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of CAE by 103.4% in the 3rd quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 915 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of CAE by 86.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock valued at $48,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in CAE by 4.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 29,280 shares of the aerospace company’s stock worth $544,000 after acquiring an additional 1,264 shares during the last quarter. 67.36% of the stock is currently owned by institutional investors and hedge funds.

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, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.