FY2024 EPS Estimates for CAE Inc. Reduced by National Bank Financial (NYSE:CAE)

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

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

CAE has been the subject of several other reports. The Goldman Sachs Group raised their price objective on CAE from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank lowered CAE from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, January 22nd. Finally, StockNews.com raised CAE from a “hold” rating to a “buy” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, CAE currently has a consensus rating of “Moderate Buy” and an average price target of $34.75.

CAE Price Performance

NYSE:CAE opened at $18.63 on Thursday. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 1.42 and a beta of 1.59. CAE has a 1 year low of $18.26 and a 1 year high of $25.04. The business has a 50 day simple moving average of $19.61 and a 200-day simple moving average of $20.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.90 and a quick ratio of 0.68.

Institutional Investors Weigh In On CAE

Hedge funds and other institutional investors have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its holdings in shares of CAE by 142.8% in the first 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 purchased a new position in CAE during the 3rd quarter worth $29,000. Allworth Financial LP increased its holdings in CAE by 678.3% during the 3rd quarter. Allworth Financial LP now owns 1,541 shares of the aerospace company’s stock worth $36,000 after purchasing an additional 1,343 shares during the period. Hillsdale Investment Management Inc. increased its holdings in CAE by 45.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,600 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 500 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in CAE by 85.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,029 shares of the aerospace company’s stock worth $47,000 after purchasing an additional 935 shares during the period. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

About CAE

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.