Cubic Corp. (CUB) Posts Earnings Results, Misses Estimates By $0.46 EPS
Cubic Corp. (NYSE:CUB) posted its quarterly earnings results on Monday. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.46. The company earned $406.60 million during the quarter, compared to analyst estimates of $390.30 million. Cubic Corp. had a net margin of 1.97% and a return on equity of 5.60%. During the same period in the prior year, the company earned $0.74 earnings per share.
Cubic Corp. (NYSE:CUB) traded down 10.05% during mid-day trading on Monday, reaching $44.30. 278,868 shares of the company’s stock traded hands. Cubic Corp. has a 12 month low of $30.11 and a 12 month high of $49.93. The firm’s 50-day moving average price is $44.17 and its 200 day moving average price is $43.16. The stock has a market capitalization of $1.20 billion, a PE ratio of 41.09 and a beta of 0.98.
A number of institutional investors have recently made changes to their positions in CUB. PineBridge Investments L.P. increased its position in shares of 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. Teacher Retirement System of Texas increased its position in shares of Cubic Corp. by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 3,206 shares of the company’s stock valued at $129,000 after buying an additional 399 shares during the period. Bank of Montreal Can bought a new position in shares of Cubic Corp. during the second quarter valued at approximately $130,000. Mason Street Advisors LLC bought a new position in shares of Cubic Corp. during the second quarter valued at approximately $172,000. Finally, Legal & General Group Plc increased its position in shares of 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. Institutional investors own 89.36% of the company’s stock.
Several analysts recently issued reports on CUB shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 price target on shares of Cubic Corp. in a report on Thursday, October 6th. Needham & Company LLC cut their price target on shares of Cubic Corp. from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, October 14th. Finally, Zacks Investment Research cut shares of Cubic Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Cubic Corp. currently has a consensus rating of “Buy” and a consensus price target of $46.75.
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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