CAE (TSE:CAE) Stock Price Passes Above 50 Day Moving Average – Here’s Why

CAE Inc. (TSE:CAE) (NYSE:CAE)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$25.03 and traded as high as C$26.98. CAE shares last traded at C$26.96, with a volume of 550,081 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets cut their price objective on CAE from C$34.00 to C$33.00 in a research note on Thursday, July 18th. National Bankshares reduced their price objective on CAE from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada upgraded shares of CAE from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 15th. Canaccord Genuity Group reduced their price target on shares of CAE from C$28.50 to C$27.00 in a research report on Thursday, August 15th. Finally, Desjardins decreased their price target on shares of CAE from C$29.00 to C$28.00 and set a “hold” rating for the company in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CAE has an average rating of “Hold” and a consensus target price of C$30.60.

CAE Stock Performance

The company has a market cap of C$8.59 billion, a P/E ratio of -25.20, a PEG ratio of 1.76 and a beta of 1.91. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 74.24. The company has a 50 day moving average price of C$25.03 and a 200-day moving average price of C$25.38.

CAE (TSE:CAE) (NYSE:CAE) last released its earnings results on Tuesday, August 13th. The company reported C$0.21 EPS for the quarter, beating the consensus estimate of C$0.20 by C$0.01. The firm had revenue of C$1.07 billion for the quarter, compared to analysts’ expectations of C$1.05 billion. CAE had a negative net margin of 7.39% and a negative return on equity of 7.43%.

CAE Company Profile

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.