Cubic Corp. (CUB) Stock Price Down 2.4%
Cubic Corp. (NYSE:CUB)’s share price was down 2.4% during trading on Friday . The stock traded as low as $46.45 and last traded at $46.47, with a volume of 107,411 shares changing hands. The stock had previously closed at $47.63.
Several equities analysts have commented on CUB shares. Canaccord Genuity started coverage on Cubic Corp. in a research report on Wednesday, June 8th. They issued a “buy” rating and a $48.00 price objective on the stock. Needham & Company LLC raised Cubic Corp. from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Monday, August 1st. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Cubic Corp. in a research report on Saturday, July 9th. Finally, Zacks Investment Research downgraded Cubic Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.67.
The stock has a market capitalization of $1.26 billion and a price-to-earnings ratio of 43.16. The firm has a 50 day moving average of $42.30 and a 200 day moving average of $39.84.
Cubic Corp. (NYSE:CUB) last released its earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.12. The firm earned $375.20 million during the quarter, compared to analyst estimates of $387.41 million. Cubic Corp.’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, equities analysts predict that Cubic Corp. will post $0.92 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a yield of 0.65%.
Other institutional investors recently made changes to their positions in the company. Matarin Capital Management LLC bought a new position in shares of Cubic Corp. during the fourth quarter worth approximately $4,919,000. Marshall Wace LLP bought a new position in shares of Cubic Corp. during the fourth quarter worth approximately $2,685,000. Finally, Rhumbline Advisers increased its position in shares of Cubic Corp. by 5.4% in the fourth quarter. Rhumbline Advisers now owns 38,546 shares of the company’s stock worth $1,821,000 after buying an additional 1,985 shares during the last quarter.
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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