CAE (NYSE:CAE) Rating Lowered to Hold at Royal Bank of Canada

CAE (NYSE:CAE) (TSE:CAE) was downgraded by analysts at Royal Bank of Canada from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

Several other equities analysts have also recently commented on the company. Canaccord Genuity Group reiterated a “hold” rating on shares of CAE in a research note on Wednesday, May 22nd. Desjardins cut shares of CAE from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. StockNews.com downgraded CAE from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. The Goldman Sachs Group upped their price objective on CAE from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group assumed coverage on CAE in a report on Thursday, June 6th. They issued a “hold” rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, CAE currently has an average rating of “Hold” and a consensus price target of $32.00.

CAE Stock Performance

CAE stock opened at $19.17 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.61. CAE has a 12 month low of $17.40 and a 12 month high of $25.04. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -26.63, a price-to-earnings-growth ratio of 1.32 and a beta of 1.67. The stock’s 50-day moving average is $19.29 and its 200-day moving average is $19.83.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings results on Monday, May 27th. The aerospace company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.16). CAE had a negative net margin of 6.97% and a positive return on equity of 6.10%. The business had revenue of $835.47 million for the quarter, compared to analyst estimates of $863.18 million. During the same period last year, the firm earned $0.26 earnings per share. Equities analysts anticipate that CAE will post 0.89 earnings per share for the current year.

Hedge Funds Weigh In On CAE

Institutional investors have recently modified their holdings of the company. JARISLOWSKY FRASER Ltd boosted its stake in CAE by 28.5% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 17,334,635 shares of the aerospace company’s stock valued at $375,982,000 after purchasing an additional 3,843,611 shares during the period. Norges Bank acquired a new position in shares of CAE during the fourth quarter worth approximately $74,413,000. Mackenzie Financial Corp grew its holdings in CAE by 6.7% in the 4th quarter. Mackenzie Financial Corp now owns 33,315,745 shares of the aerospace company’s stock worth $719,443,000 after buying an additional 2,083,595 shares in the last quarter. AGF Management Ltd. increased its position in CAE by 174.1% in the 4th quarter. AGF Management Ltd. now owns 1,188,038 shares of the aerospace company’s stock valued at $26,348,000 after acquiring an additional 754,648 shares during the period. Finally, Clearbridge Investments LLC raised its stake in CAE by 17.1% during the 1st quarter. Clearbridge Investments LLC now owns 3,710,044 shares of the aerospace company’s stock valued at $76,575,000 after acquiring an additional 541,066 shares in the last quarter. Institutional investors own 67.36% of the company’s stock.

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