CAE (NYSE:CAE) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• CAE reported quarterly earnings of $0.15 EPS, surpassing estimates by $0.01, with a net margin of 8.55% and return on equity of 8.17%.
• The company's stock rose to $29.62 following the earnings announcement, with a market cap of $9.50 billion and an average target price set at $33.67 by analysts.
• Institutional investors currently hold 67.36% of CAE's stock, with notable acquisitions by firms like Goldman Sachs and Millennium Management in the past quarter.

CAE (NYSE:CAE - Get Free Report) TSE: CAE announced its quarterly earnings data on Tuesday. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01, Zacks reports. CAE had a net margin of 8.55% and a return on equity of 8.17%.

CAE Stock Performance

Shares of CAE stock traded up $0.87 on Tuesday, reaching $29.62. The stock had a trading volume of 876,118 shares, compared to its average volume of 553,360. The business's 50-day moving average price is $28.16 and its two-hundred day moving average price is $25.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.58 and a current ratio of 0.80. CAE has a fifty-two week low of $16.59 and a fifty-two week high of $30.13. The stock has a market cap of $9.50 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34.

Analysts Set New Price Targets

Several research analysts have commented on CAE shares. The Goldman Sachs Group started coverage on shares of CAE in a report on Monday, June 30th. They issued a "buy" rating and a $33.00 target price for the company. CIBC reiterated a "neutral" rating on shares of CAE in a report on Thursday, May 15th. National Bank Financial upgraded shares of CAE from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CAE in a research report on Monday, July 7th. Finally, Cibc World Mkts raised shares of CAE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, CAE has an average rating of "Moderate Buy" and an average target price of $33.67.

Institutional Trading of CAE

A number of institutional investors and hedge funds have recently modified their holdings of CAE. Millennium Management LLC acquired a new stake in shares of CAE in the first quarter worth $4,170,000. Goldman Sachs Group Inc. increased its position in CAE by 142.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company's stock worth $42,036,000 after acquiring an additional 1,004,820 shares during the period. United Services Automobile Association increased its position in CAE by 4.5% during the first quarter. United Services Automobile Association now owns 10,822 shares of the aerospace company's stock worth $265,000 after acquiring an additional 462 shares during the period. Finally, Prudential Financial Inc. bought a new position in CAE during the second quarter worth $287,000. 67.36% of the stock is currently owned by institutional investors and hedge funds.

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.

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