Cubic Corp. (CUB) Upgraded to “Hold” at Zacks Investment Research
Cubic Corp. (NYSE:CUB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research 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. “
Other analysts also recently issued research reports about the stock. Canaccord Genuity initiated coverage on shares of Cubic Corp. in a report on Wednesday, June 8th. They issued a “buy” rating and a $48.00 price objective for the company. Needham & Company LLC upgraded shares of Cubic Corp. from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Monday, August 1st. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Cubic Corp. in a report on Saturday, July 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.80.
Shares of Cubic Corp. (NYSE:CUB) traded down 1.15% during trading on Tuesday, reaching $46.34. 82,384 shares of the company were exchanged. Cubic Corp. has a 1-year low of $30.11 and a 1-year high of $49.79. The firm has a 50-day moving average price of $46.91 and a 200-day moving average price of $42.41. The stock has a market capitalization of $1.25 billion, a P/E ratio of 42.99 and a beta of 1.12.
Cubic Corp. (NYSE:CUB) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.12. The business earned $375.20 million during the quarter, compared to analyst estimates of $387.41 million. Cubic Corp. had a net margin of 1.97% and a return on equity of 5.60%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. Equities research analysts predict that Cubic Corp. will post $0.92 earnings per share for the current fiscal year.
The company also recently declared a semiannual dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.135 per share. The ex-dividend date was Monday, August 29th. This represents a dividend yield of 0.65%. Cubic Corp.’s dividend payout ratio is currently 24.77%.
Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Cubic Corp. during the fourth quarter worth $8,174,000. Teachers Advisors Inc. boosted its position in Cubic Corp. by 7.1% in the first quarter. Teachers Advisors Inc. now owns 238,656 shares of the company’s stock worth $9,537,000 after buying an additional 15,780 shares during the last quarter. Prudential Financial Inc. boosted its position in Cubic Corp. by 25.6% in the first quarter. Prudential Financial Inc. now owns 64,035 shares of the company’s stock worth $2,559,000 after buying an additional 13,035 shares during the last quarter. Franklin Resources Inc. boosted its position in Cubic Corp. by 677.8% in the first quarter. Franklin Resources Inc. now owns 972,200 shares of the company’s stock worth $38,849,000 after buying an additional 847,200 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in Cubic Corp. by 7.9% in the first quarter. BlackRock Group LTD now owns 31,522 shares of the company’s stock worth $1,260,000 after buying an additional 2,316 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.
About Cubic Corp.
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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