Brokerages Expect Cubic Co. (NYSE:CUB) Will Post Quarterly Sales of $352.52 Million

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Equities analysts expect Cubic Co. (NYSE:CUB) to post $352.52 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Cubic’s earnings. The highest sales estimate is $363.91 million and the lowest is $345.20 million. Cubic reported sales of $296.21 million during the same quarter last year, which would suggest a positive year over year growth rate of 19%. The business is expected to report its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Cubic will report full year sales of $1.45 billion for the current fiscal year, with estimates ranging from $1.43 billion to $1.47 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.59 billion, with estimates ranging from $1.57 billion to $1.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Cubic.

Cubic (NYSE:CUB) last announced its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.44. Cubic had a return on equity of 3.44% and a net margin of 0.62%. The business had revenue of $337.30 million during the quarter, compared to the consensus estimate of $326.88 million. During the same period in the previous year, the company posted ($0.12) earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis.

A number of equities analysts have recently commented on the company. Raymond James raised Cubic from an “outperform” rating to a “strong-buy” rating and set a $82.00 price objective for the company in a research report on Monday, May 13th. Zacks Investment Research raised Cubic from a “sell” rating to a “strong-buy” rating and set a $68.00 price objective for the company in a research report on Wednesday, May 8th. ValuEngine raised Cubic from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Canaccord Genuity lowered their price objective on Cubic from $74.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Citigroup assumed coverage on Cubic in a research report on Friday, February 15th. They set a “buy” rating and a $75.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.72.

Shares of Cubic stock opened at $62.07 on Thursday. Cubic has a one year low of $50.61 and a one year high of $77.35. The stock has a market cap of $1.93 billion, a PE ratio of 96.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 1.12.

In other Cubic news, Director Edwin A. Guiles bought 2,716 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $59.80 per share, for a total transaction of $162,416.80. Following the completion of the purchase, the director now directly owns 14,022 shares in the company, valued at $838,515.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John H. Warner, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $59.50 per share, with a total value of $148,750.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 12,371 shares of company stock valued at $742,609. 0.51% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of CUB. BlackRock Inc. lifted its stake in Cubic by 14.0% during the fourth quarter. BlackRock Inc. now owns 5,097,799 shares of the scientific and technical instruments company’s stock worth $273,956,000 after purchasing an additional 626,175 shares during the last quarter. FMR LLC lifted its stake in Cubic by 25,700.1% during the fourth quarter. FMR LLC now owns 234,007 shares of the scientific and technical instruments company’s stock worth $12,576,000 after purchasing an additional 233,100 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Cubic by 5,021.9% during the first quarter. PNC Financial Services Group Inc. now owns 215,735 shares of the scientific and technical instruments company’s stock worth $12,132,000 after purchasing an additional 211,523 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Cubic by 81.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 432,769 shares of the scientific and technical instruments company’s stock worth $24,339,000 after purchasing an additional 194,917 shares during the last quarter. Finally, AMI Asset Management Corp purchased a new stake in Cubic during the first quarter worth approximately $10,361,000. Hedge funds and other institutional investors own 95.55% of the company’s stock.

About Cubic

Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).

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