Topic: How To Invest

The Successful Investor Hotline – Friday, August 11, 2023

Article Excerpt

CAE INC., $31.66, Toronto symbol CAE, remains a buy for long-term gains. The company is a leading maker of flight simulators for commercial and military aircraft. It also operates pilot-training schools in over 40 countries and makes mannequins and other medical-simulators for training health professionals. CAE continues to gain as air travel volumes return to pre-pandemic levels. That is spurring airlines to order more of its simulators and training services. The company also continues to win new orders from military clients. In CAE’s fiscal 2024 first quarter ended June 30, 2023, revenue rose 13.0%, to $1.05 billion from $933.3 million a year earlier. That topped the consensus forecast of $1.02 billion. The higher revenue also lifted earnings before unusual items by 300.0%, to $0.24 a share from last year’s depressed level of $0.06. That, too, beat the consensus estimate of $0.21 a share. CAE ended the quarter with a record order backlog of $11.18 billion, up 11.5% from a year earlier. That’s equal to 2.6 times…