CAE (NYSE:CAE) Stock Rating Lowered by Royal Bank of Canada

CAE (NYSE:CAE) (TSE:CAE) was downgraded by research analysts at Royal Bank of Canada from a “moderate buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

A number of other equities research analysts also recently weighed in on CAE. Canaccord Genuity Group downgraded shares of CAE from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. StockNews.com downgraded CAE from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. The Goldman Sachs Group raised their price target on CAE from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Jefferies Financial Group began coverage on shares of CAE in a research report on Thursday, June 6th. They set a “hold” rating and a $21.00 price objective for the company. Finally, Canaccord Genuity Group restated a “hold” rating on shares of CAE in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.00.

CAE Stock Performance

Shares of CAE stock opened at $19.17 on Tuesday. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -26.63, a PEG ratio of 1.32 and a beta of 1.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.61 and a current ratio of 0.85. CAE has a 52 week low of $17.40 and a 52 week high of $25.04. The company has a 50-day simple moving average of $19.29 and a 200 day simple moving average of $19.83.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Monday, May 27th. The aerospace company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.16). The firm had revenue of $835.47 million during the quarter, compared to the consensus estimate of $863.18 million. CAE had a negative net margin of 6.97% and a positive return on equity of 6.10%. During the same quarter last year, the firm earned $0.26 earnings per share. On average, sell-side analysts predict that CAE will post 0.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAE. CIBC Asset Management Inc grew its position in CAE by 21.3% during the 4th quarter. CIBC Asset Management Inc now owns 681,156 shares of the aerospace company’s stock worth $14,749,000 after acquiring an additional 119,411 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of CAE by 6.7% during the fourth quarter. Mackenzie Financial Corp now owns 33,315,745 shares of the aerospace company’s stock worth $719,443,000 after purchasing an additional 2,083,595 shares during the last quarter. Norges Bank bought a new stake in shares of CAE during the fourth quarter worth about $74,413,000. Pacifica Partners Inc. increased its stake in shares of CAE by 24.6% in the fourth quarter. Pacifica Partners Inc. now owns 4,013 shares of the aerospace company’s stock valued at $81,000 after buying an additional 793 shares during the period. Finally, Vanguard Group Inc. raised its holdings in CAE by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 10,606,797 shares of the aerospace company’s stock valued at $247,669,000 after buying an additional 152,778 shares during the last quarter. 67.36% of the stock is currently owned by institutional investors and hedge funds.

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.