Tuesday's analyst upgrades and downgrades for July 2, 2024 [Globe and Mail, The (Toronto, Canada)]
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CAE Inc. Ordinary Shares (CAE)
Last cae inc. ordinary shares earnings: 2/7 08:23 am
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Source: Globe and Mail, The
Ahead of second-quarter earnings season for Canadian steel companies, RBC Dominion Securities analyst James McGarragle reduced his estimates for the alloy to reflect “a gradual decline in pricing early in the quarter and a more pronounced decline in June.” “The general decline in steel prices, coupled with uncertainty surrounding domestic demand, has put pressure on pricing in our view,” he added. “Moreover, the current high interest rate environment has negatively impacted construction activity and industrial production, as evidenced by ABI and PMI indicators both trending below 50. We expect prices to move higher to the mid $700 per ton in Q3 and to trend toward $800 in 2025.” In a research report released Tuesday, Mr. McGarragle noted share prices for both North American distributors and producers are down significantly in the quarter, which he thinks have “priced in the weaker steel price environment to some extent.” “The sector was impacted by weakening steel prices during
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CAE
Earnings
- 5/27/24 - Miss
CAE
Sec Filings
- 6/21/24 - Form 40-F
- 6/21/24 - Form 6-K
- 5/30/24 - Form SD
- CAE's page on the SEC website