CAE (NYSE:CAE) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

CAE (NYSE:CAE) (TSE:CAE) announced its earnings results on Tuesday. The aerospace company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03, Zacks reports. CAE had a return on equity of 7.92% and a net margin of 8.70%.The firm had revenue of $897.99 million during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year.

CAE Price Performance

CAE stock traded up $0.03 during mid-day trading on Wednesday, hitting $27.45. The stock had a trading volume of 1,550,165 shares, compared to its average volume of 569,618. The firm has a fifty day simple moving average of $27.77 and a 200 day simple moving average of $27.43. The firm has a market capitalization of $8.80 billion, a P/E ratio of 29.83, a P/E/G ratio of 2.49 and a beta of 1.42. The company has a current ratio of 0.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. CAE has a 52 week low of $20.36 and a 52 week high of $30.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of CAE by 142.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company’s stock worth $42,036,000 after buying an additional 1,004,820 shares during the period. Canada Pension Plan Investment Board increased its position in shares of CAE by 24.9% in the second quarter. Canada Pension Plan Investment Board now owns 2,102,874 shares of the aerospace company’s stock valued at $61,670,000 after acquiring an additional 418,700 shares during the period. Millennium Management LLC bought a new position in shares of CAE during the first quarter valued at about $4,170,000. Jane Street Group LLC boosted its holdings in shares of CAE by 675.4% during the second quarter. Jane Street Group LLC now owns 186,662 shares of the aerospace company’s stock worth $5,464,000 after purchasing an additional 162,588 shares during the period. Finally, Man Group plc bought a new stake in shares of CAE in the second quarter worth about $4,413,000. Institutional investors and hedge funds own 67.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CAE. TD Securities upgraded CAE from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Weiss Ratings restated a “hold (c)” rating on shares of CAE in a research report on Wednesday, October 8th. Wall Street Zen cut CAE from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Scotiabank reissued an “outperform” rating on shares of CAE in a report on Thursday, August 14th. Finally, Jefferies Financial Group restated a “hold” rating and set a $30.00 target price on shares of CAE in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently 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.