Cubic Corp. (CUB) Rating Reiterated by Canaccord Genuity
Cubic Corp. (NYSE:CUB)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a report issued on Thursday. They presently have a $54.00 price target on the stock. Canaccord Genuity’s price target points to a potential upside of 18.37% from the company’s previous close.
A number of other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Cubic Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Needham & Company LLC upgraded shares of Cubic Corp. from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Monday, August 1st. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Cubic Corp. in a research note on Saturday, July 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $47.60.
Cubic Corp. (NYSE:CUB) opened at 45.62 on Thursday. Cubic Corp. has a 52 week low of $30.11 and a 52 week high of $49.79. The company has a market capitalization of $1.23 billion, a PE ratio of 42.32 and a beta of 1.12. The company has a 50-day moving average of $46.86 and a 200-day moving average of $42.50.
Cubic Corp. (NYSE:CUB) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.12. The firm had revenue of $375.20 million for the quarter, compared to the consensus estimate 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 for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, equities research analysts anticipate that Cubic Corp. will post $0.92 EPS for the current year.
The firm also recently disclosed a semiannual dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.135 dividend. This represents a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, August 29th. Cubic Corp.’s payout ratio is 24.77%.
Institutional investors have recently bought and sold shares of the company. PineBridge Investments L.P. increased its position in Cubic Corp. by 3.8% in the second quarter. PineBridge Investments L.P. now owns 2,771 shares of the company’s stock worth $111,000 after buying an additional 101 shares during the last quarter. Teacher Retirement System of Texas increased its position in Cubic Corp. by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 3,206 shares of the company’s stock worth $129,000 after buying an additional 399 shares during the last quarter. Bank of Montreal Can acquired a new position in Cubic Corp. during the second quarter worth about $130,000. Mason Street Advisors LLC acquired a new position in Cubic Corp. during the second quarter worth about $172,000. Finally, Legal & General Group Plc increased its position in Cubic Corp. by 5.9% in the first quarter. Legal & General Group Plc now owns 4,870 shares of the company’s stock worth $194,000 after buying an additional 273 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.
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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