Credit Suisse Group reiterated their outperform rating on shares of Cubic Corporation (NYSE:CUB) in a research report released on Wednesday morning, The Fly reports. They currently have a $58.00 target price on the scientific and technical instruments company’s stock, up from their previous target price of $49.00.
Several other equities research analysts have also commented on CUB. BidaskClub raised Cubic Corporation from a hold rating to a buy rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered Cubic Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. Canaccord Genuity decreased their price target on Cubic Corporation from $60.00 to $50.00 and set a buy rating on the stock in a research note on Friday, August 4th. ValuEngine lowered Cubic Corporation from a hold rating to a sell rating in a research note on Friday, August 4th. Finally, Needham & Company LLC reissued a buy rating and set a $48.00 price target (down previously from $52.00) on shares of Cubic Corporation in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Cubic Corporation currently has an average rating of Buy and a consensus target price of $56.67.
Shares of Cubic Corporation (NYSE:CUB) opened at 52.45 on Wednesday. The company’s market cap is $1.42 billion. The firm has a 50-day moving average price of $47.83 and a 200 day moving average price of $47.29. Cubic Corporation has a 12 month low of $39.58 and a 12 month high of $55.65.
Cubic Corporation (NYSE:CUB) last announced its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.86). The firm had revenue of $361.87 million for the quarter, compared to analysts’ expectations of $383.47 million. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. Cubic Corporation’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. Equities analysts predict that Cubic Corporation will post ($0.62) earnings per share for the current year.
The business also recently disclosed a semiannual dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.135 per share. The ex-dividend date was Wednesday, August 30th. This represents a dividend yield of 0.62%. Cubic Corporation’s dividend payout ratio is currently -22.69%.
Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Cubic Corporation during the 1st quarter worth approximately $115,000. Bessemer Group Inc. acquired a new position in shares of Cubic Corporation during the 2nd quarter worth approximately $125,000. SG Americas Securities LLC acquired a new position in shares of Cubic Corporation during the 2nd quarter worth approximately $208,000. State of Alaska Department of Revenue raised its position in shares of Cubic Corporation by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,919 shares of the scientific and technical instruments company’s stock worth $227,000 after purchasing an additional 2,169 shares during the last quarter. Finally, Invictus RG acquired a new position in shares of Cubic Corporation during the 1st quarter worth approximately $231,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.
About Cubic Corporation
Cubic Corporation (Cubic) designs, integrates and operates systems, products and services that provide situational awareness for its customers in the transportation and defense industries. The Company operates in three business segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense (CGD) and Cubic Global Defense Services (CGD Services).
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