Eye Catching Stock News: Cae Inc (NYSE:CAE)

On Wednesday Cae Inc (NYSE:CAE) stock raised 3.7% and closed at 26.89. The stock opened the session at $26.35 and touched its highest price point at $27.46. Its recent trading capacity is 490905 shares versus to its average trading volume of 181810 shares. The company’s stock’s lowest price point for the session stood at $26.13.CAE traded as low as $ in the past 52 weeks, and shares hit its peak level to $28.03.

On Nov. 13, 2019, Cae Inc (NYSE:CAE) released revenue of $896.8 million for the second quarter of fiscal 2020, compared with $743.8 million in the second quarter last year. Second quarter net income attributable to equity holders was $73.8 million ($0.28 per share) compared to $60.7 million ($0.23 per share) last year. Net income before specific items (4) in the second quarter of fiscal 2020 was $74.7 million ($0.28 per share before specific items (5)).

Second quarter segment operating income was $124.8 million (13.9% of revenue) compared with $98.7 million (13.3% of revenue) in the second quarter of last year. Segment operating income before specific items in the second quarter of fiscal 2020 was $126.0 million (14.0% of revenue). All financial information is in Canadian dollars unless otherwise indicated.

CAE had good growth in the second quarter, with 21 percent higher revenue and 28 percent higher operating income, and we secured nearly $1.0 billion of orders for a $9.2 billion backlog, said Marc Parent, CAE’s President and Chief Executive Officer. Performance was led by Civil with 60 percent operating income growth and higher margins, and continued good momentum signing long-term training agreements with our airline partners. In business aviation, we substantially concluded the integration of Bombardier Business Aircraft Training and I am very pleased with its performance to date. Further strengthening our position is our strategic partnership and exclusive 15-year training outsourcing with Directional Aviation Capital, one of the largest, fastest growing, and most innovative corporate aviation service companies globally. In Defence, modest top-line growth and lower operating income reflect order delays and the timing of program milestones on contracts in backlog. We continue to expect a stronger second half in Defence, a view supported by a healthy book-to-sales ratio in the quarter and a robust pipeline. In Healthcare, we received orders for new products that we plan to deliver in the coming quarters, and we enhanced our position in the large U.S. hospital market. As we look to the remainder of the fiscal year, our overall outlook for the Company remains largely unchanged, with a higher growth outlook in Civil offsetting lower expected growth in Defence.

Cheyenne Cox is a news report covering multiple Market and economy News. She is creative and highly professional writer. Cheyenne holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.

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