CAE Inc. shares hit record high after Q4 report beats analyst expectations

MONTREAL _ CAE Inc. shares hit an all-time high Friday after the company reported better-than-expected quarterly earnings.

The company’s shares reached an inter-day high of $27.10. They later hovered around $26.65, up about 5.5 per cent, with less than an hour before the market’s close.

CAE reported earlier that its net income attributable to shareholders from continuing operations was $100.1 million or 37 cents per share for the fourth quarter of its 2018 financial year.

The profit was up from $67.4 million or 25 cents per share during the same quarter the previous year.

Analysts surveyed by Thomson Eikon anticipated earnings of $89 million or 32 cents per share.

Revenue for the three months ended March 31 was $780.7 million, up from $734.7 million in the fourth quarter of fiscal 2017.