Short Interest in CAE Inc. (NYSE:CAE) Drops By 16.7%

CAE Inc. (NYSE:CAEGet Rating) (TSE:CAE) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 3,340,000 shares, a drop of 16.7% from the April 30th total of 4,010,000 shares. Based on an average daily volume of 348,600 shares, the short-interest ratio is currently 9.6 days. Approximately 1.1% of the company’s stock are sold short.

CAE stock traded up $1.87 during mid-day trading on Wednesday, hitting $26.84. The company had a trading volume of 84,952 shares, compared to its average volume of 303,397. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 96.04, a P/E/G ratio of 3.41 and a beta of 1.58. CAE has a 12-month low of $20.96 and a 12-month high of $34.19. The company has a quick ratio of 0.89, a current ratio of 1.18 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $24.91 and a 200 day moving average price of $25.20.

CAE (NYSE:CAEGet Rating) (TSE:CAE) last announced its earnings results on Tuesday, May 31st. The aerospace company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The firm had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $952.02 million. CAE had a net margin of 3.23% and a return on equity of 6.49%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. As a group, analysts expect that CAE will post 0.61 EPS for the current year.

Several research analysts recently weighed in on the stock. TD Securities raised shares of CAE from a “hold” rating to a “buy” rating in a report on Tuesday, February 15th. Desjardins dropped their target price on shares of CAE from C$38.00 to C$37.00 in a report on Tuesday, February 15th. StockNews.com initiated coverage on shares of CAE in a report on Thursday, March 31st. They issued a “hold” rating for the company. Scotiabank decreased their price target on shares of CAE from C$44.00 to C$43.00 in a research note on Monday, April 18th. Finally, Zacks Investment Research upgraded shares of CAE from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, CAE presently has a consensus rating of “Hold” and an average price target of $41.00.

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank N A MO purchased a new stake in shares of CAE during the 4th quarter valued at about $25,000. Stonehage Fleming Financial Services Holdings Ltd raised its position in shares of CAE by 53.9% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,239 shares of the aerospace company’s stock valued at $31,000 after buying an additional 434 shares in the last quarter. Addison Advisors LLC purchased a new stake in shares of CAE during the 1st quarter valued at about $35,000. US Bancorp DE raised its position in shares of CAE by 23.4% during the 3rd quarter. US Bancorp DE now owns 3,205 shares of the aerospace company’s stock valued at $95,000 after buying an additional 607 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of CAE by 25.1% during the 4th quarter. Signaturefd LLC now owns 3,296 shares of the aerospace company’s stock valued at $83,000 after buying an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 58.19% of the company’s stock.

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.

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