Cubic Corp. (CUB) Shares Gap Up to $42.63
Cubic Corp. (NYSE:CUB) shares gapped up prior to trading on Thursday . The stock had previously closed at $42.44, but opened at $42.63. Cubic Corp. shares last traded at $44.87, with a volume of 116,640 shares changing hands.
Several research analysts have commented on the stock. Canaccord Genuity assumed coverage on shares of Cubic Corp. in a report on Wednesday, June 8th. They issued a “buy” rating and a $48.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Cubic Corp. in a report on Tuesday, April 19th. Credit Suisse Group AG reissued a “buy” rating on shares of Cubic Corp. in a report on Saturday, July 9th. Finally, Zacks Investment Research raised shares of Cubic Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.33.
The company has a 50-day moving average price of $40.76 and a 200 day moving average price of $39.41. The firm has a market cap of $1.19 billion and a P/E ratio of 35.41.
Cubic Corp. (NYSE:CUB) last announced its earnings results on Wednesday, August 3rd. The company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.12. During the same period in the prior year, the company posted $0.33 earnings per share. The business had revenue of $375.20 million for the quarter, compared to analyst estimates of $387.41 million. The company’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Cubic Corp. will post $1.28 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.135 per share. The ex-dividend date is Monday, August 29th. This represents a yield of 0.65%.
Several hedge funds have recently made changes to their positions in CUB. Rhumbline Advisers boosted its stake 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 period. California State Teachers Retirement System boosted its stake in shares of Cubic Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 40,098 shares of the company’s stock worth $1,895,000 after buying an additional 642 shares during the period. Marshall Wace LLP purchased a new stake in shares of Cubic Corp. during the fourth quarter worth about $2,685,000. Matarin Capital Management LLC purchased a new stake in shares of Cubic Corp. during the fourth quarter worth about $4,919,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Cubic Corp. by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 144,180 shares of the company’s stock worth $6,813,000 after buying an additional 6,740 shares during the period.
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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