Brokerages Set CAE Inc. (NYSE:CAE) PT at $28.00

CAE Inc. (NYSE:CAE) (TSE:CAE) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.00.

Several analysts have recently weighed in on CAE shares. Morgan Stanley downgraded CAE from an “overweight” rating to an “equal weight” rating in a report on Friday, August 16th. Canaccord Genuity Group reissued a “hold” rating on shares of CAE in a report on Wednesday, May 22nd. Jefferies Financial Group started coverage on CAE in a report on Thursday, June 6th. They issued a “hold” rating and a $21.00 target price for the company. Desjardins downgraded CAE from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, Canaccord Genuity Group downgraded CAE from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd.

Hedge Funds Weigh In On CAE

Several institutional investors have recently added to or reduced their stakes in the stock. Maven Securities LTD increased its position in CAE by 25.0% in the 2nd quarter. Maven Securities LTD now owns 50,000 shares of the aerospace company’s stock valued at $929,000 after acquiring an additional 10,000 shares during the period. Truist Financial Corp increased its position in CAE by 10.4% during the 2nd quarter. Truist Financial Corp now owns 84,490 shares of the aerospace company’s stock worth $1,570,000 after purchasing an additional 7,935 shares during the period. Point72 Asset Management L.P. acquired a new position in CAE during the 2nd quarter worth approximately $1,417,000. Brandes Investment Partners LP increased its position in CAE by 103.8% during the 2nd quarter. Brandes Investment Partners LP now owns 11,071,485 shares of the aerospace company’s stock worth $206,027,000 after purchasing an additional 5,640,269 shares during the period. Finally, Clearline Capital LP acquired a new position in CAE during the 2nd quarter worth approximately $2,290,000. Institutional investors and hedge funds own 67.36% of the company’s stock.

CAE Stock Up 2.4 %

Shares of NYSE CAE opened at $18.02 on Tuesday. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -25.03, a price-to-earnings-growth ratio of 1.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.61. The business has a 50-day moving average of $17.91 and a two-hundred day moving average of $18.89. CAE has a 1 year low of $15.95 and a 1 year high of $25.04.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. CAE’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. On average, analysts forecast that CAE will post 0.86 earnings per share for the current fiscal year.

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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.