CAE Inc (NYSE:CAE) Stock Holdings Trimmed by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its position in CAE Inc by 0.6%, selling 99,645 shares, which leaves them with a holding of 16,042,746 shares valued at approximately $394 million.
• CAE has recently received mixed evaluations from analysts, with some maintaining a "hold" rating while others upgraded it to a "strong-buy," leading to an average rating of "Moderate Buy".
• The company reported $0.33 EPS in its latest quarter, which slightly exceeded the consensus estimate, although its revenue fell short of expectations at $886.20 million.

Mackenzie Financial Corp cut its position in shares of CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 16,042,746 shares of the aerospace company's stock after selling 99,645 shares during the quarter. Mackenzie Financial Corp owned 5.01% of CAE worth $394,408,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Natixis purchased a new stake in CAE in the 4th quarter worth about $38,000. Versant Capital Management Inc acquired a new position in shares of CAE during the 1st quarter worth about $53,000. UniSuper Management Pty Ltd acquired a new position in shares of CAE during the 4th quarter worth about $147,000. First Trust Advisors LP bought a new position in CAE during the fourth quarter valued at about $213,000. Finally, Orion Portfolio Solutions LLC bought a new position in CAE during the fourth quarter valued at about $225,000. 67.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CAE shares. Royal Bank Of Canada reissued a "sector perform" rating on shares of CAE in a report on Monday, July 7th. Cibc World Mkts upgraded shares of CAE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Jefferies Financial Group reiterated a "hold" rating and set a $30.00 target price on shares of CAE in a report on Monday, July 21st. The Goldman Sachs Group initiated coverage on CAE in a report on Monday, June 30th. They issued a "buy" rating and a $33.00 price objective for the company. Finally, Wall Street Zen upgraded CAE from a "hold" rating to a "buy" rating in a report on Tuesday, May 27th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, CAE presently has an average rating of "Moderate Buy" and an average price target of $33.67.

CAE Trading Up 0.6%

Shares of CAE stock opened at $28.68 on Monday. The company has a 50 day moving average of $27.45 and a 200-day moving average of $25.40. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. CAE Inc has a 12-month low of $15.95 and a 12-month high of $30.13. The firm has a market cap of $9.20 billion, a P/E ratio of 31.87, a PEG ratio of 2.36 and a beta of 1.30.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last announced its quarterly earnings results on Tuesday, May 13th. The aerospace company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $886.20 million during the quarter, compared to the consensus estimate of $1.30 billion. CAE had a net margin of 8.55% and a return on equity of 8.17%. The business's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. Sell-side analysts anticipate that CAE Inc will post 0.83 earnings per share for the current year.

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.

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