CAE (NYSE:CAE) Shares Down 3.2% - Here's Why

CAE Inc. (NYSE:CAE - Get Free Report) TSE: CAE's stock price was down 3.2% during mid-day trading on Tuesday . The company traded as low as $25.99 and last traded at $26.01. Approximately 123,842 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 558,415 shares. The stock had previously closed at $26.87.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CAE shares. Bank of America raised CAE from an "underperform" rating to a "neutral" rating in a research note on Friday, March 7th. Wall Street Zen upgraded CAE from a "hold" rating to a "buy" rating in a report on Tuesday, May 27th. CIBC reaffirmed a "neutral" rating on shares of CAE in a research report on Thursday, May 15th. National Bank Financial upgraded shares of CAE from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group cut their target price on shares of CAE from $28.00 to $27.00 and set a "hold" rating on the stock in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.33.

CAE Stock Up 1.6%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 0.86. The stock's 50 day simple moving average is $24.53 and its 200 day simple moving average is $24.32. The firm has a market cap of $8.53 billion, a P/E ratio of -51.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last issued its quarterly earnings data on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. The firm had revenue of $886.20 million during the quarter, compared to analysts' expectations of $1.30 billion. During the same period last year, the company earned $0.37 earnings per share. The business's revenue was up 13.2% on a year-over-year basis. Research analysts anticipate that CAE Inc. will post 0.83 EPS for the current year.

Hedge Funds Weigh In On CAE

A number of hedge funds have recently added to or reduced their stakes in CAE. JPMorgan Chase & Co. lifted its holdings in shares of CAE by 3.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,172,533 shares of the aerospace company's stock valued at $29,759,000 after purchasing an additional 42,325 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CAE in the 4th quarter valued at $4,746,000. Norges Bank bought a new position in CAE during the 4th quarter valued at $98,436,000. Plato Investment Management Ltd purchased a new stake in shares of CAE in the fourth quarter valued at about $846,000. Finally, Intact Investment Management Inc. purchased a new position in CAE during the fourth quarter worth about $13,763,000. Institutional investors and hedge funds 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, 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.