Cubic Corp. (NYSE:CUB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Cubic Corporation is the parent company of two major business segments: defense and transportation. The Cubic Defense Applications group is a world leader in realistic combat training systems, mission support services and defense electronics. Cubic Transportation Systems designs and manufactures automatic fare collection systems for public transit authorities. Cubic Transportation Systems designs, manufactures and integrates automatic fare collection systems for public transit projects throughout the world. This includes rail, bus and parking lot systems. The company supplies contactless smart cards; magnetic stripe cards; device software; and transit hardware including gates, ticket machines and card readers. Cubic Defense Applications provides realistic live combat training systems for military forces as well as virtual training systems, constructive simulation support, force modernization, battle command training and education and engineering & technical support. “
CUB has been the topic of a number of other research reports. Credit Suisse Group AG reissued a “buy” rating on shares of Cubic Corp. in a report on Saturday, July 9th. Canaccord Genuity reissued a “buy” rating and set a $50.00 price objective on shares of Cubic Corp. in a report on Thursday, August 11th. Finally, Needham & Company LLC raised shares of Cubic Corp. from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Monday, August 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.80.
Cubic Corp. (NYSE:CUB) traded down 1.15% during trading on Tuesday, hitting $46.34. 82,384 shares of the company were exchanged. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 42.99 and a beta of 1.12. The company has a 50-day moving average of $46.91 and a 200-day moving average of $42.41. Cubic Corp. has a 12 month low of $30.11 and a 12 month high of $49.79.
Cubic Corp. (NYSE:CUB) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.12. The company had revenue of $375.20 million for the quarter, compared to analysts’ expectations of $387.41 million. Cubic Corp. had a return on equity of 5.60% and a net margin of 1.97%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Analysts forecast that Cubic Corp. will post $0.92 EPS for the current year.
The firm also recently declared a semiannual dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.135 dividend. This represents a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, August 29th. Cubic Corp.’s dividend payout ratio (DPR) is presently 24.77%.
Several hedge funds have recently made changes to their positions in the stock. Mason Street Advisors LLC purchased a new position in Cubic Corp. during the second quarter worth $172,000. Public Employees Retirement System of Ohio raised its position in Cubic Corp. by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 44,377 shares of the company’s stock worth $1,782,000 after buying an additional 285 shares in the last quarter. Legal & General Group Plc raised its position in Cubic Corp. by 3.0% in the second quarter. Legal & General Group Plc now owns 5,014 shares of the company’s stock worth $199,000 after buying an additional 144 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Cubic Corp. by 22.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 18,408 shares of the company’s stock worth $739,000 after buying an additional 3,314 shares in the last quarter. Finally, FDx Advisors Inc. raised its position in Cubic Corp. by 17.7% in the second quarter. FDx Advisors Inc. now owns 6,336 shares of the company’s stock worth $254,000 after buying an additional 951 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.
Cubic Corp. Company Profile
Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates through three segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems) and Cubic Global Defense Services (CGD Services).
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