CAE (CAE) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of CAE (NYSE:CAE) (TSE:CAE) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “CAE is a world leader in providing simulation and modelling technologies, and integrated training services to the civil aviation industry and defence forces around the globe. The Company design, manufacture and supply simulation equipment and offer training and services. This includes integrated modelling, simulation and training solutions for commercial airlines, business aircraft operators, aircraft manufacturers and military organizations and a global network of training centres for pilots, and in some instances, cabin crew and maintenance workers. “

Separately, ValuEngine downgraded shares of CAE from a buy rating to a hold rating in a research report on Tuesday, October 30th.

NYSE:CAE traded up $0.04 during mid-day trading on Wednesday, hitting $18.46. The stock had a trading volume of 171,728 shares, compared to its average volume of 175,449. CAE has a twelve month low of $16.84 and a twelve month high of $21.70. The company has a market capitalization of $4.86 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 1.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.42.

CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Tuesday, August 14th. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.06. The business had revenue of $722.00 million during the quarter, compared to the consensus estimate of $729.04 million. CAE had a net margin of 12.36% and a return on equity of 13.48%. CAE’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. As a group, equities analysts forecast that CAE will post 0.94 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its position in CAE by 81.9% during the second quarter. Russell Investments Group Ltd. now owns 1,084,053 shares of the aerospace company’s stock worth $22,280,000 after acquiring an additional 488,042 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in CAE during the second quarter worth approximately $510,000. Legal & General Group Plc lifted its position in CAE by 41.3% during the second quarter. Legal & General Group Plc now owns 461,977 shares of the aerospace company’s stock worth $9,591,000 after acquiring an additional 135,062 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in CAE by 3,246.2% during the second quarter. Tower Research Capital LLC TRC now owns 10,641 shares of the aerospace company’s stock worth $222,000 after acquiring an additional 10,323 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in CAE by 43.2% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,172,200 shares of the aerospace company’s stock worth $32,013,000 after acquiring an additional 353,900 shares during the last quarter. Hedge funds and other institutional investors own 49.03% of the company’s stock.

CAE Company Profile

CAE Inc, together with its subsidiaries, designs, manufactures, and supplies simulation equipment worldwide. It operates through three segments: Civil Aviation Training Solutions, Defence and Security, and Healthcare. The Civil Aviation Training Solutions segment provides training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; flight simulation training devices; and ab initio pilot training and crew sourcing services.

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