CAE (NYSE:CAE) Now Covered by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group initiated coverage of CAE (NYSE:CAE) with a “buy” rating; combined with other recent actions the stock has a consensus “Moderate Buy” rating and a consensus price target of $34.33.
• CAE reported quarterly EPS of $0.24, beating estimates of $0.22 while revenue of $911.8M slightly missed expectations, and the stock trades at a market cap of $8.92B with a P/E of 33.38.
• Institutional investors own about 67.36% of CAE, with large recent additions from investors including Norges Bank, FIL, Morgan Stanley and Goldman Sachs.

Investment analysts at Canaccord Genuity Group started coverage on shares of CAE (NYSE:CAE - Get Free Report) TSE: CAE in a research note issued to investors on Friday. The firm set a "buy" rating on the aerospace company's stock.

A number of other research analysts have also recently commented on CAE. Stifel Nicolaus assumed coverage on shares of CAE in a report on Wednesday, March 4th. They issued a "buy" rating for the company. Scotiabank reissued an "outperform" rating on shares of CAE in a research note on Tuesday, February 17th. Zacks Research upgraded shares of CAE from a "strong sell" rating to a "hold" rating in a research report on Monday, January 12th. TD Securities reaffirmed a "buy" rating on shares of CAE in a research note on Tuesday, February 17th. Finally, Weiss Ratings downgraded shares of CAE from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.33.

CAE Price Performance

CAE stock traded up $0.66 during trading hours on Friday, reaching $27.73. 122,953 shares of the stock were exchanged, compared to its average volume of 702,352. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. CAE has a twelve month low of $20.36 and a twelve month high of $34.24. The company has a market cap of $8.92 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 3.36 and a beta of 1.11. The stock has a 50 day moving average of $31.27 and a two-hundred day moving average of $29.07.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last issued its earnings results on Thursday, February 12th. The aerospace company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $911.78 million for the quarter, compared to the consensus estimate of $922.62 million. CAE had a return on equity of 7.75% and a net margin of 7.70%.The company's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. Equities analysts expect that CAE will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On CAE

A number of institutional investors have recently added to or reduced their stakes in CAE. Norges Bank acquired a new position in CAE in the 2nd quarter valued at approximately $118,239,000. FIL Ltd lifted its holdings in shares of CAE by 21.9% during the fourth quarter. FIL Ltd now owns 10,422,522 shares of the aerospace company's stock worth $316,955,000 after purchasing an additional 1,874,739 shares during the period. TD Asset Management Inc grew its stake in shares of CAE by 82.5% in the fourth quarter. TD Asset Management Inc now owns 2,704,860 shares of the aerospace company's stock worth $82,364,000 after purchasing an additional 1,222,581 shares during the last quarter. Morgan Stanley grew its stake in shares of CAE by 114.0% in the fourth quarter. Morgan Stanley now owns 2,059,644 shares of the aerospace company's stock worth $62,654,000 after purchasing an additional 1,097,193 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in CAE by 142.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company's stock valued at $42,036,000 after purchasing an additional 1,004,820 shares during the period. 67.36% of the stock is owned by institutional investors.

CAE Company Profile

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.

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