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

CAE Inc. (NYSE:CAE) (TSE:CAE) – Equities researchers at National Bank Financial cut their FY2024 earnings per share estimates for CAE in a research note issued to investors on Monday, April 15th. National Bank Financial analyst C. Doerksen now anticipates that the aerospace company will post earnings per share of $0.85 for the year, down from their previous 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 announced its quarterly earnings results on Wednesday, February 14th. The aerospace company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. CAE had a return on equity of 7.52% and a net margin of 6.20%. The firm had revenue of $804.01 million for the quarter, compared to analyst estimates of $807.13 million.

A number of other brokerages also recently weighed in on CAE. Scotiabank downgraded CAE from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, January 22nd. 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 report on Tuesday. Finally, StockNews.com raised CAE from a “hold” rating to a “buy” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.75.

CAE Price Performance

Shares of CAE stock opened at $18.92 on Thursday. CAE has a 1-year low of $18.26 and a 1-year high of $25.04. The stock’s 50-day moving average is $19.70 and its 200 day moving average is $20.62. The company has a market cap of $6.02 billion, a P/E ratio of 29.55, a PEG ratio of 1.42 and a beta of 1.59. 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

Several institutional investors have recently added to or reduced their stakes in CAE. JARISLOWSKY FRASER Ltd boosted its holdings in CAE by 28.5% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 17,334,635 shares of the aerospace company’s stock worth $375,982,000 after acquiring an additional 3,843,611 shares in the last quarter. Norges Bank acquired a new stake in CAE in the fourth quarter worth about $74,413,000. Wasatch Advisors Inc. acquired a new stake in CAE in the first quarter worth about $58,679,000. Mackenzie Financial Corp boosted its holdings in CAE by 6.7% in the fourth quarter. Mackenzie Financial Corp now owns 33,315,745 shares of the aerospace company’s stock worth $719,443,000 after acquiring an additional 2,083,595 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of CAE by 1,533.3% during the third quarter. Citigroup Inc. now owns 915,129 shares of the aerospace company’s stock worth $21,464,000 after purchasing an additional 859,098 shares during the period. Institutional investors and hedge funds own 67.36% of the company’s stock.

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.