Desjardins Weighs in on CAE Inc.’s Q1 2023 Earnings (NYSE:CAE)

Posted by on Jun 6th, 2022

CAE Inc. (NYSE:CAE – Get Rating) (TSE:CAE) – Investment analysts at Desjardins decreased their Q1 2023 EPS estimates for CAE in a research note issued to investors on Thursday, June 2nd. Desjardins analyst B. Poirier now forecasts that the aerospace company will earn $0.20 per share for the quarter, down from their prior estimate of $0.22. Desjardins also issued estimates for CAE’s Q2 2023 earnings at $0.20 EPS, Q3 2023 earnings at $0.24 EPS, Q4 2023 earnings at $0.28 EPS, FY2023 earnings at $0.93 EPS and FY2024 earnings at $1.22 EPS.

CAE (NYSE:CAE – Get Rating) (TSE:CAE) last issued its quarterly earnings results on Tuesday, May 31st. The aerospace company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. The firm had revenue of $955.00 million for the quarter, compared to the consensus estimate of $952.02 million. CAE had a return on equity of 6.79% and a net margin of 4.21%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share.

Several other research analysts have also issued reports on the company. StockNews.com assumed coverage on CAE in a research report on Thursday, March 31st. They set a “hold” rating on the stock. TD Securities increased their price objective on CAE from C$39.00 to C$41.00 in a report on Thursday. Zacks Investment Research upgraded CAE from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. National Bank Financial reduced their target price on shares of CAE from C$45.00 to C$44.00 in a report on Monday, February 14th. Finally, Scotiabank cut their price target on CAE from C$44.00 to C$43.00 in a research report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CAE has an average rating of “Hold” and a consensus price target of $41.33.

Shares of CAE opened at $26.93 on Monday. CAE has a fifty-two week low of $20.96 and a fifty-two week high of $34.19. The company has a 50 day moving average price of $25.01 and a 200-day moving average price of $25.14. The stock has a market capitalization of $8.54 billion, a PE ratio of 76.95, a PEG ratio of 3.78 and a beta of 1.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.89 and a current ratio of 1.03.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAE. The Manufacturers Life Insurance Company increased its position in shares of CAE by 24.4% during the first quarter. The Manufacturers Life Insurance Company now owns 1,119,497 shares of the aerospace company’s stock worth $29,186,000 after purchasing an additional 219,309 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of CAE by 31.1% during the first quarter. Jane Street Group LLC now owns 54,059 shares of the aerospace company’s stock worth $1,410,000 after buying an additional 12,826 shares in the last quarter. Royal Bank of Canada raised its position in shares of CAE by 7.8% in the first quarter. Royal Bank of Canada now owns 9,737,158 shares of the aerospace company’s stock valued at $253,946,000 after buying an additional 706,627 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of CAE in the first quarter worth about $242,000. Finally, 1832 Asset Management L.P. boosted its position in CAE by 153.8% during the first quarter. 1832 Asset Management L.P. now owns 965,601 shares of the aerospace company’s stock worth $24,823,000 after acquiring an additional 585,122 shares during the last quarter. Hedge funds and other institutional investors own 58.19% of the company’s stock.

CAE Company Profile (Get Rating)

CAE Inc, together with its subsidiaries, designs, manufactures, and supplies simulation equipment and training solutions to defense and security markets, commercial airlines, business aircraft operators, helicopter operators, aircraft manufacturers, and healthcare education and service providers worldwide.

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Earnings History and Estimates for CAE (NYSE:CAE)

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