Royal Bank Of Canada Cuts CAE (NYSE:CAE) Price Target to $40.00

CAE (NYSE:CAE) (TSE:CAE) had its price objective reduced by equities research analysts at Royal Bank Of Canada from $41.00 to $40.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the aerospace company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 50.57% from the stock’s current price.

Several other research firms have also recently issued reports on CAE. Wall Street Zen cut CAE from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Scotiabank restated an “outperform” rating on shares of CAE in a report on Thursday, August 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective on shares of CAE in a research note on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAE in a report on Wednesday, October 8th. Finally, TD Securities raised CAE from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

CAE Stock Down 3.2%

Shares of CAE stock traded down $0.87 during mid-day trading on Thursday, reaching $26.57. 349,169 shares of the company were exchanged, compared to its average volume of 570,191. The company has a market capitalization of $8.52 billion, a P/E ratio of 28.86, a P/E/G ratio of 2.49 and a beta of 1.42. The business’s 50 day simple moving average is $27.78 and its 200 day simple moving average is $27.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.87. CAE has a fifty-two week low of $20.36 and a fifty-two week high of $30.13.

CAE (NYSE:CAE) (TSE:CAE) last released its earnings results on Tuesday, November 11th. The aerospace company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $897.99 million during the quarter, compared to analyst estimates of $1.13 billion. CAE had a net margin of 8.70% and a return on equity of 7.92%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Research analysts predict that CAE will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On CAE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas bought a new stake in CAE during the second quarter worth about $80,000. Bessemer Group Inc. boosted its position in shares of CAE by 360.9% during the 2nd quarter. Bessemer Group Inc. now owns 4,402 shares of the aerospace company’s stock worth $129,000 after acquiring an additional 3,447 shares in the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in CAE during the second quarter worth about $236,000. State of Wyoming increased its holdings in shares of CAE by 39.4% during the first quarter. State of Wyoming now owns 8,431 shares of the aerospace company’s stock worth $207,000 after buying an additional 2,385 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of CAE by 11.1% in the second quarter. PNC Financial Services Group Inc. now owns 8,510 shares of the aerospace company’s stock valued at $249,000 after buying an additional 851 shares during the period. 67.36% of the stock is 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.