CAE (CAE) Trading 7.4% Higher After Dividend Announcement

Shares of Cae Inc (TSE:CAE) (NYSE:CAE) shot up 7.4% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as C$26.33 and last traded at C$26.24. 322,922 shares were traded during mid-day trading, a decline of 37% from the average session volume of 513,859 shares. The stock had previously closed at C$24.44.

The newly announced dividend which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 13th. CAE’s payout ratio is 27.82%.

Several brokerages have recently issued reports on CAE. BMO Capital Markets raised their price objective on CAE from C$29.00 to C$30.00 in a research note on Wednesday. TD Securities raised their price objective on CAE from C$26.00 to C$28.00 and gave the stock a “hold” rating in a research note on Monday. National Bank Financial reduced their price objective on CAE from C$30.00 to C$29.00 in a research note on Friday, November 9th. Finally, Raymond James reduced their price objective on CAE from C$25.00 to C$24.50 and set a “market perform” rating for the company in a research note on Wednesday, August 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$28.00.

The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 56.64.

CAE (TSE:CAE) (NYSE:CAE) last announced its quarterly earnings data on Tuesday, August 14th. The company reported C$0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.27 by C($0.01). The firm had revenue of C$722.00 million during the quarter, compared to analysts’ expectations of C$730.37 million. As a group, research analysts anticipate that Cae Inc will post 1.39999990834698 EPS for the current fiscal year.

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CAE Company Profile (TSE:CAE)

CAE Inc, together with its subsidiaries, designs, manufactures, and supplies simulation equipment worldwide. It operates through three segments: Civil Aviation Training Solutions, Defence and Security, and Healthcare. The Civil Aviation Training Solutions segment provides training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; flight simulation training devices; and ab initio pilot training and crew sourcing services.

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