Mackenzie Financial Corp Sells 99,645 Shares of CAE Inc (NYSE:CAE)

Mackenzie Financial Corp decreased its stake in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,042,746 shares of the aerospace company’s stock after selling 99,645 shares during the period. Mackenzie Financial Corp owned about 0.05% of CAE worth $394,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Natixis purchased a new stake in CAE during the fourth quarter valued at approximately $38,000. Versant Capital Management Inc purchased a new stake in CAE during the first quarter valued at approximately $53,000. UniSuper Management Pty Ltd purchased a new stake in CAE during the fourth quarter valued at approximately $147,000. First Trust Advisors LP purchased a new stake in CAE during the fourth quarter valued at approximately $213,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in CAE during the fourth quarter valued at approximately $225,000. Institutional investors own 67.36% of the company’s stock.

CAE Stock Performance

CAE opened at $28.68 on Monday. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.36 and a beta of 1.30. The company has a fifty day moving average of $27.45 and a 200 day moving average of $25.40. CAE Inc has a fifty-two week low of $15.95 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.58 and a current ratio of 0.80.

CAE (NYSE:CAE) (TSE:CAE) last posted its earnings results on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $886.20 million during the quarter, compared to analysts’ expectations of $1.30 billion. CAE had a net margin of 8.55% and a return on equity of 8.17%. CAE’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the company posted $0.37 earnings per share. As a group, sell-side analysts forecast that CAE Inc will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CAE has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price on shares of CAE in a report on Monday, July 21st. Cibc World Mkts raised shares of CAE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Royal Bank Of Canada reissued a “sector perform” rating on shares of CAE in a research note on Monday, July 7th. BMO Capital Markets reissued an “outperform” rating on shares of CAE in a research note on Wednesday, May 14th. Finally, National Bank Financial raised shares of CAE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.67.

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, 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.