Cubic Corp. (CUB) Shares Gap Up to $42.63
Cubic Corp. (NYSE:CUB) 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.
Several equities research analysts recently commented on the company. 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. Canaccord Genuity assumed coverage on Cubic Corp. in a research report on Wednesday, June 8th. They set a “buy” rating and a $48.00 price objective on the stock. Zacks Investment Research cut Cubic Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Cubic Corp. in a research report on Saturday, July 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Cubic Corp. currently has a consensus rating of “Buy” and a consensus price target of $47.33.
The stock has a market cap of $1.19 billion and a price-to-earnings ratio of 35.39. The stock has a 50-day moving average of $40.82 and a 200 day moving average of $39.44.
Cubic Corp. (NYSE:CUB) last issued its earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.12. During the same period in the previous year, the business posted $0.33 earnings per share. The business earned $375.20 million during the quarter, compared to analyst estimates of $387.41 million. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Cubic Corp. will post $0.92 EPS for the current fiscal year.
The company also recently announced a semiannual dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.135 per share. This represents a yield of 0.65%. The ex-dividend date of this dividend is Monday, August 29th.
Several hedge funds and institutional investors recently added to or reduced their stakes in CUB. Rhumbline Advisers raised its position in Cubic Corp. by 5.4% in the fourth quarter. Rhumbline Advisers now owns 38,546 shares of the company’s stock valued at $1,821,000 after buying an additional 1,985 shares during the last quarter. California State Teachers Retirement System raised its position in Cubic Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 40,098 shares of the company’s stock valued at $1,895,000 after buying an additional 642 shares during the last quarter. Marshall Wace LLP bought a new position in Cubic Corp. during the fourth quarter valued at approximately $2,685,000. Matarin Capital Management LLC bought a new position in Cubic Corp. during the fourth quarter valued at approximately $4,919,000. Finally, Principal Financial Group Inc. raised its position in Cubic Corp. by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 144,180 shares of the company’s stock valued at $6,813,000 after buying an additional 6,740 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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