CAE Inc. (NYSE: CAE) released its latest quarterly earnings results on October 26, 2023, reporting an earnings per share (EPS) of $0.24. This figure surpassed the consensus estimate of $0.22, according to data from Zacks. The aerospace and defense company also reported revenue of $911.78 million for the quarter, slightly below analysts’ expectations of $922.62 million.
The company’s return on equity stood at 7.81%, with a net margin of 7.70%. Compared to the same quarter last year, CAE’s revenue showed a modest increase of 2.3%. In the previous year’s quarter, the company reported an EPS of $0.29.
Stock Performance and Market Indicators
During mid-day trading on October 27, 2023, shares of CAE traded down by $1.15, reaching a price of $30.23. A total of 2,062,774 shares changed hands, significantly above the average trading volume of 652,644. Currently, CAE’s 50-day simple moving average is $31.43, while its 200-day moving average stands at $28.90.
The company has a quick ratio of 0.59, a current ratio of 0.83, and a debt-to-equity ratio of 0.60. CAE’s market capitalization is approximately $9.73 billion, with a price-to-earnings (P/E) ratio of 36.43 and a P/E growth (P/E/G) ratio of 2.37. Over the past year, the stock has seen a low of $20.36 and a high of $34.24.
Institutional Investments and Market Sentiment
Recent changes in institutional investments reflect growing interest in CAE. Cerity Partners LLC increased its stake by 14.1% in the fourth quarter, now holding 13,374 shares valued at approximately $407,000. Similarly, Benjamin Edwards Inc. boosted its holdings by 19.7% during the second quarter, acquiring an additional 2,157 shares and bringing its total to 13,094 shares valued at $383,000.
Moreover, Corient Private Wealth LLC raised its holdings by 6.3% in the same period, while Xponance LLC and Militia Capital Partners LP recently acquired new stakes valued at approximately $377,000 and $288,000, respectively. Institutional investors now hold around 67.36% of CAE’s stock.
CAE Inc., headquartered in Montreal, Canada, is recognized as a leader in training and simulation technologies. The company specializes in creating high-fidelity flight simulators and training systems catering to the civil aviation, defense, security, and healthcare sectors. Through its advanced software and hardware integration, CAE provides comprehensive training solutions that enhance pilot proficiency, mission readiness, and patient safety.
Investors and market analysts are keenly observing CAE’s performance as the company continues to adapt to evolving demands in the aerospace sector.
