Stock News Buzz: Cae Inc (NYSE:CAE)
On Wednesday Cae Inc (NYSE:CAE) stock recorded daily change of 0.04% to close at $26.97 with the total traded volume of 0 shares along average volume of 241566 shares 52 week range of the stock remained $ 17.82 – 28.03 while its day low price was $26.79 and its hit its day high price at $27.17. Its previous closing value stands at $26.96. CAE total market capitalization is $9509598719. Currently stocks EPS is $0.95 while its price to earnings ratio is 28.53.
On Nov. 28, 2019, Cae Inc (NYSE:CAE) released at the Montreal Council on Foreign Relations (CORIM) that it will become carbon neutral by the summer of 2020. The company will achieve this goal by offsetting carbon emissions from the fuel used for all the live training flights of its academies, from energy consumption in its locations worldwide and from the air business travel of all its employees.
I am happy to make the commitment that CAE will become carbon neutral by next summer,” said Marc Parent, President and Chief Executive Officer at CAE. We want to do our share in the fight against climate change for the wellbeing of future generations. In addition to preventing hundreds of thousands of tons of CO2 being emitted each year by training more than 135,000 pilots in simulators, we will offset our live training fuel emissions, business air travel and energy other than electricity by funding greenhouse gas reduction projects. We will also compensate for our electricity consumption by buying renewable energy certificates which support renewable electricity development.”
Carbon offsetting and renewable energy certificates are interim measures that CAE will take while new technologies and solutions are being developed to reduce emissions. CAE will work with the industry to progressively use electric aircraft for the live flight training in its academies. CAE will also continue to undertake other measures to reduce its overall emissions, for example, by continually investing to make its full-flight simulators more energy efficient, therefore allowing its customers worldwide to reduce their own footprint.
Roy Frigo an avid economist and an expert on global politics and economic pressures that can affect market conditions. He has a Masters Degree in Economics from Westminster University with previous roles including Investment Banking.
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