FY2024 EPS Estimates for CAE Inc. (NYSE:CAE) Reduced by Analyst

CAE Inc. (NYSE:CAE - Free Report) TSE: CAE - Analysts at National Bank Financial reduced their FY2024 EPS estimates for CAE in a research report issued to clients and investors on Monday, April 15th. National Bank Financial analyst C. Doerksen now anticipates that the aerospace company will post earnings of $0.85 per share for the year, down from their previous forecast of $0.88. The consensus estimate for CAE's current full-year earnings is $0.87 per share.

Other research analysts have also recently issued research reports about the company. Scotiabank cut CAE from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, January 22nd. StockNews.com raised shares of CAE from a "hold" rating to a "buy" rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their target price on shares of CAE from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.75.

CAE Stock Performance

NYSE:CAE traded down $0.37 during mid-day trading on Thursday, hitting $18.56. 455,634 shares of the stock were exchanged, compared to its average volume of 555,028. The firm's 50-day simple moving average is $19.66 and its 200 day simple moving average is $20.60. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.59. CAE has a fifty-two week low of $18.26 and a fifty-two week high of $25.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.68 and a current ratio of 0.90.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last issued its quarterly earnings data on Wednesday, February 14th. The aerospace company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. CAE had a net margin of 6.20% and a return on equity of 7.52%. The firm had revenue of $804.01 million during the quarter, compared to the consensus estimate of $807.13 million.

Institutional Trading of CAE

A number of institutional investors and hedge funds have recently made changes to their positions in the company. JARISLOWSKY FRASER Ltd lifted its position in shares of CAE by 28.5% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 17,334,635 shares of the aerospace company's stock worth $375,982,000 after buying an additional 3,843,611 shares during the last quarter. Norges Bank bought a new position in shares of CAE in the fourth quarter worth about $74,413,000. Wasatch Advisors Inc. acquired a new stake in shares of CAE in the 1st quarter valued at approximately $58,679,000. Mackenzie Financial Corp grew its holdings in shares of CAE by 6.7% during the 4th quarter. Mackenzie Financial Corp now owns 33,315,745 shares of the aerospace company's stock valued at $719,443,000 after purchasing an additional 2,083,595 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of CAE by 1,533.3% during the third quarter. Citigroup Inc. now owns 915,129 shares of the aerospace company's stock worth $21,464,000 after buying an additional 859,098 shares during the last quarter. Institutional investors own 67.36% of the company's stock.

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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.