FY2023 EPS Estimates for CAE Inc. (NYSE:CAE) Cut by Scotiabank

CAE Inc. (NYSE:CAEGet Rating) (TSE:CAE) – Equities researchers at Scotiabank decreased their FY2023 earnings per share estimates for shares of CAE in a report released on Monday, April 18th. Scotiabank analyst K. Gupta now forecasts that the aerospace company will post earnings of $0.92 per share for the year, down from their previous forecast of $0.96. Scotiabank also issued estimates for CAE’s FY2024 earnings at $1.22 EPS and FY2025 earnings at $1.30 EPS.

CAE (NYSE:CAEGet Rating) (TSE:CAE) last posted its quarterly earnings results on Friday, February 11th. The aerospace company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $848.70 million during the quarter, compared to analysts’ expectations of $921.72 million. CAE had a return on equity of 6.49% and a net margin of 3.23%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS.

Several other analysts have also recently commented on the company. National Bank Financial reduced their price target on CAE from C$45.00 to C$44.00 in a report on Monday, February 14th. Zacks Investment Research raised CAE from a “sell” rating to a “hold” rating in a research note on Tuesday. TD Securities raised CAE from a “hold” rating to a “buy” rating in a research note on Tuesday, February 15th. Desjardins dropped their price objective on CAE from C$38.00 to C$37.00 in a research note on Tuesday, February 15th. Finally, StockNews.com initiated coverage on CAE in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.86.

CAE opened at $27.28 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.18 and a quick ratio of 0.89. The business has a 50 day simple moving average of $25.67 and a 200-day simple moving average of $26.59. The stock has a market capitalization of $8.65 billion, a P/E ratio of 97.43, a P/E/G ratio of 3.52 and a beta of 1.63. CAE has a 12 month low of $22.60 and a 12 month high of $34.19.

A number of institutional investors have recently added to or reduced their stakes in CAE. Addenda Capital Inc. grew its position in shares of CAE by 5.3% in the first quarter. Addenda Capital Inc. now owns 616,856 shares of the aerospace company’s stock valued at $20,072,000 after purchasing an additional 31,196 shares during the period. Neville Rodie & Shaw Inc. grew its position in shares of CAE by 2.9% in the first quarter. Neville Rodie & Shaw Inc. now owns 27,355 shares of the aerospace company’s stock valued at $717,000 after purchasing an additional 775 shares during the period. CLARET ASSET MANAGEMENT Corp grew its position in shares of CAE by 0.7% in the first quarter. CLARET ASSET MANAGEMENT Corp now owns 118,870 shares of the aerospace company’s stock valued at $3,093,000 after purchasing an additional 875 shares during the period. Confluence Investment Management LLC grew its position in shares of CAE by 13.7% in the first quarter. Confluence Investment Management LLC now owns 23,956 shares of the aerospace company’s stock valued at $625,000 after purchasing an additional 2,885 shares during the period. Finally, Norges Bank purchased a new stake in shares of CAE in the fourth quarter valued at $71,645,000. 56.85% of the stock is owned by institutional investors.

CAE Company Profile (Get Rating)

CAE Inc, together with its subsidiaries, designs, manufactures, and supplies simulation equipment and training solutions to defense and security markets, commercial airlines, business aircraft operators, helicopter operators, aircraft manufacturers, and healthcare education and service providers worldwide.

Further Reading

Earnings History and Estimates for CAE (NYSE:CAE)

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