Bank of Nova Scotia Buys Shares of 1,715,770 CAE Inc $CAE

Key Points

• Bank of Nova Scotia bought 1,715,770 CAE shares during the second quarter, valued at approximately $43.0 million and representing a 0.53% ownership stake.
• CAE exceeded quarterly earnings expectations, reporting $0.19 in EPS versus the $0.17 consensus estimate and revenue of $826.4 million, up 6.8% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $31.00, while CAE shares recently traded at $24.91.

Bank of Nova Scotia purchased a new position in CAE Inc (NYSE:CAE - Free Report) TSE: CAE during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,715,770 shares of the aerospace company's stock, valued at approximately $42,956,000. Bank of Nova Scotia owned 0.53% of CAE as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Transamerica Financial Advisors LLC grew its position in CAE by 170.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,267 shares of the aerospace company's stock worth $39,000 after purchasing an additional 799 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in CAE during the fourth quarter worth about $41,000. CIBC Private Wealth Group LLC bought a new position in CAE during the third quarter valued at about $42,000. Tacita Capital Inc bought a new stake in shares of CAE in the 2nd quarter worth approximately $37,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of CAE during the 4th quarter worth approximately $47,000. 67.36% of the stock is owned by institutional investors.

CAE Price Performance

CAE stock opened at $24.91 on Monday. The business's fifty day moving average is $25.65 and its two-hundred day moving average is $26.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.77 and a current ratio of 0.96. The firm has a market cap of $8.01 billion, a P/E ratio of 35.09, a P/E/G ratio of 2.85 and a beta of 1.01. CAE Inc has a 52 week low of $22.76 and a 52 week high of $34.24.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last announced its earnings results on Wednesday, August 12th. The aerospace company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $826.42 million during the quarter, compared to analyst estimates of $796.86 million. CAE had a return on equity of 7.45% and a net margin of 6.36%.The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. CAE has set its FY 2027 guidance at 0.870-0.920 EPS. Equities research analysts forecast that CAE Inc will post 0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAE has been the topic of several recent research reports. Morgan Stanley lowered shares of CAE from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, July 15th. National Bank Financial reissued an "outperform" rating on shares of CAE in a report on Friday, May 22nd. Jefferies Financial Group reaffirmed a "hold" rating on shares of CAE in a research note on Thursday, August 13th. Weiss Ratings downgraded shares of CAE from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of CAE from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $31.00.

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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