CAE Inc $CAE Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its holdings in CAE Inc (NYSE:CAE) (TSE:CAE) by 2.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,282,863 shares of the aerospace company’s stock after selling 48,231 shares during the quarter. Bank of Nova Scotia owned 0.71% of CAE worth $67,602,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Boothbay Fund Management LLC acquired a new stake in shares of CAE during the 3rd quarter worth about $455,000. Anson Funds Management LP purchased a new position in CAE during the third quarter worth about $4,589,000. Alliancebernstein L.P. boosted its stake in CAE by 47.4% during the third quarter. Alliancebernstein L.P. now owns 28,662 shares of the aerospace company’s stock worth $850,000 after buying an additional 9,221 shares during the period. Creative Planning increased its position in shares of CAE by 3.2% during the third quarter. Creative Planning now owns 16,423 shares of the aerospace company’s stock valued at $487,000 after acquiring an additional 507 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CAE by 6.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 174,159 shares of the aerospace company’s stock valued at $5,158,000 after acquiring an additional 10,447 shares during the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

CAE Price Performance

CAE stock opened at $27.38 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.91 and a quick ratio of 0.69. The firm has a market capitalization of $8.81 billion, a P/E ratio of 32.98, a P/E/G ratio of 3.23 and a beta of 1.11. The business’s 50-day moving average is $31.20 and its two-hundred day moving average is $29.10. CAE Inc has a 1 year low of $20.36 and a 1 year high of $34.24.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings data on Thursday, February 12th. The aerospace company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. CAE had a return on equity of 7.75% and a net margin of 7.70%.The business had revenue of $911.78 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter last year, the business posted $0.29 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that CAE Inc will post 0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Canaccord Genuity Group began coverage on shares of CAE in a report on Friday. They issued a “buy” rating on the stock. Weiss Ratings downgraded shares of CAE from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Zacks Research raised CAE from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Scotiabank restated an “outperform” rating on shares of CAE in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus initiated coverage on CAE in a research report on Wednesday, March 4th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CAE currently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

CAE Profile

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.