Desjardins Analysts Decrease Earnings Estimates for CAE Inc. (NYSE:CAE)

Posted by on Jun 5th, 2023

CAE Inc. (NYSE:CAE – Get Rating) (TSE:CAE) – Equities researchers at Desjardins dropped their Q1 2024 earnings per share (EPS) estimates for shares of CAE in a research report issued to clients and investors on Thursday, June 1st. Desjardins analyst B. Poirier now forecasts that the aerospace company will post earnings of $0.16 per share for the quarter, down from their previous forecast of $0.19. The consensus estimate for CAE’s current full-year earnings is $0.88 per share. Desjardins also issued estimates for CAE’s Q3 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.28 EPS, FY2024 earnings at $0.89 EPS and FY2025 earnings at $1.15 EPS.

CAE (NYSE:CAE – Get Rating) (TSE:CAE) last issued its quarterly earnings results on Wednesday, May 31st. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. CAE had a return on equity of 6.27% and a net margin of 5.22%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $881.21 million. During the same quarter last year, the company posted $0.23 EPS. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year.

A number of other brokerages have also weighed in on CAE. Royal Bank of Canada boosted their price objective on CAE from C$33.00 to C$37.00 in a research report on Wednesday, February 15th. The Goldman Sachs Group boosted their price objective on CAE from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. StockNews.com initiated coverage on CAE in a research report on Thursday, May 18th. They set a “buy” rating on the stock. BMO Capital Markets boosted their price objective on CAE from C$33.00 to C$35.00 in a research report on Wednesday, February 15th. Finally, Scotiabank boosted their price objective on CAE from C$35.00 to C$37.00 in a research report on Wednesday, February 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.75.

CAE Trading Up 3.9 %

Shares of CAE opened at $21.44 on Monday. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 1.76 and a beta of 1.69. CAE has a 52-week low of $15.23 and a 52-week high of $27.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.71 and a current ratio of 0.99. The business’s fifty day moving average is $22.42 and its 200-day moving average is $21.72.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of CAE in the 4th quarter valued at about $60,416,000. National Bank of Canada FI lifted its stake in shares of CAE by 113.6% in the 4th quarter. National Bank of Canada FI now owns 4,500,161 shares of the aerospace company’s stock valued at $87,001,000 after purchasing an additional 2,393,259 shares during the period. Wasatch Advisors Inc. acquired a new position in shares of CAE in the 1st quarter valued at about $58,679,000. Mackenzie Financial Corp lifted its stake in shares of CAE by 5.9% in the 1st quarter. Mackenzie Financial Corp now owns 24,596,816 shares of the aerospace company’s stock valued at $556,140,000 after purchasing an additional 1,363,665 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in shares of CAE in the 1st quarter valued at about $27,540,000. 62.00% of the stock is owned by institutional investors and hedge funds.

CAE Company Profile

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CAE, Inc engages in the provision of digital immersion and training services for the civil aviation, defense and security, and healthcare markets. It operates through the following segments: Civil Aviation Training Solutions, Defence and Security, and Healthcare. The Civil Aviation Training Solutions segment focuses on aviation professionals, airlines, business aviation operators, and aircraft manufacturers.

Further Reading

Earnings History and Estimates for CAE (NYSE:CAE)

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