Brokers Set Expectations for CAE Inc.’s FY2024 Earnings (NYSE:CAE)

CAE Inc. (NYSE:CAE) (TSE:CAE) – Equities researchers at National Bank Financial dropped their FY2024 earnings estimates for CAE in a research note issued on Monday, April 15th. National Bank Financial analyst C. Doerksen now expects that the aerospace company will post earnings per share of $0.85 for the year, down from their prior forecast of $0.88. The consensus estimate for CAE’s current full-year earnings is $0.87 per share.

A number of other research analysts also recently commented on CAE. The Goldman Sachs Group lifted their price objective on shares of CAE from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday. Scotiabank downgraded shares of CAE from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, January 22nd. Finally, StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, CAE has a consensus rating of “Moderate Buy” and an average price target of $34.75.

CAE Stock Down 1.9 %

Shares of CAE stock opened at $18.56 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.55. CAE has a 1 year low of $18.26 and a 1 year high of $25.04. The firm’s fifty day moving average price is $19.66 and its two-hundred day moving average price is $20.60. The firm has a market capitalization of $5.91 billion, a P/E ratio of 28.99, a PEG ratio of 1.41 and a beta of 1.59.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Wednesday, February 14th. The aerospace company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. CAE had a net margin of 6.20% and a return on equity of 7.52%. The business had revenue of $804.01 million for the quarter, compared to analyst estimates of $807.13 million.

Institutional Trading of CAE

Several hedge funds and other institutional investors have recently modified their holdings of CAE. Massmutual Trust Co. FSB ADV boosted its holdings in shares of CAE by 142.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock worth $25,000 after buying an additional 707 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in CAE in the 3rd quarter worth about $29,000. Hillsdale Investment Management Inc. raised its position in shares of CAE by 45.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,600 shares of the aerospace company’s stock valued at $35,000 after buying an additional 500 shares in the last quarter. Allworth Financial LP raised its position in shares of CAE by 678.3% in the 3rd quarter. Allworth Financial LP now owns 1,541 shares of the aerospace company’s stock valued at $36,000 after buying an additional 1,343 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of CAE by 85.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,029 shares of the aerospace company’s stock valued at $47,000 after buying an additional 935 shares in the last quarter. Institutional investors own 67.36% of the company’s stock.

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