Canaccord Genuity Reiterates “Buy” Rating for Cubic Corp. (CUB)
Cubic Corp. (NYSE:CUB)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research note issued to investors on Thursday. They presently have a $54.00 target price on the stock. Canaccord Genuity’s target price indicates a potential upside of 15.06% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. Needham & Company LLC raised 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. Zacks Investment Research raised Cubic Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Cubic Corp. in a report on Saturday, July 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $47.60.
Cubic Corp. (NYSE:CUB) opened at 46.93 on Thursday. Cubic Corp. has a 12-month low of $30.11 and a 12-month high of $49.79. The firm’s 50-day moving average price is $46.92 and its 200 day moving average price is $42.44. The stock has a market cap of $1.27 billion, a PE ratio of 43.53 and a beta of 1.12.
Cubic Corp. (NYSE:CUB) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.12. The company 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 business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. Analysts anticipate 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. Investors of record on Wednesday, August 31st were issued a $0.135 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a yield of 0.65%. Cubic Corp.’s payout ratio is 24.77%.
A number of institutional investors have recently added to or reduced their stakes in CUB. Guggenheim Capital LLC raised its stake in Cubic Corp. by 0.9% in the second quarter. Guggenheim Capital LLC now owns 8,199 shares of the company’s stock valued at $329,000 after buying an additional 74 shares during the period. PineBridge Investments L.P. raised its stake in Cubic Corp. by 3.8% in the second quarter. PineBridge Investments L.P. now owns 2,771 shares of the company’s stock valued at $111,000 after buying an additional 101 shares during the period. Legal & General Group Plc raised its stake in Cubic Corp. by 3.0% in the second quarter. Legal & General Group Plc now owns 5,014 shares of the company’s stock valued at $199,000 after buying an additional 144 shares during the period. Comerica Bank raised its stake in Cubic Corp. by 0.7% in the second quarter. Comerica Bank now owns 22,330 shares of the company’s stock valued at $995,000 after buying an additional 146 shares during the period. Finally, Arizona State Retirement System raised its stake in Cubic Corp. by 1.8% in the second quarter. Arizona State Retirement System now owns 11,388 shares of the company’s stock valued at $457,000 after buying an additional 200 shares during the period. 88.16% of the stock is owned by institutional investors.
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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