CUI Global, Inc. (NASDAQ:CUI) Issues Earnings Results, Beats Estimates By $0.05 EPS
CUI Global, Inc. (NASDAQ:CUI) issued its earnings results on Wednesday. The industrial products company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.05, Bloomberg Earnings reports. CUI Global had a negative return on equity of 15.64% and a negative net margin of 10.10%. The firm had revenue of $22.50 million for the quarter, compared to analysts’ expectations of $19.96 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year.
CUI Global (CUI) traded up 10.19% on Wednesday, reaching $3.57. The company’s stock had a trading volume of 90,435 shares. The stock has a 50 day moving average price of $3.56 and a 200-day moving average price of $4.60. The company’s market capitalization is $74.83 million. CUI Global has a 1-year low of $3.10 and a 1-year high of $7.39.
In other CUI Global news, CEO William J. Clough acquired 17,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $3.28 per share, for a total transaction of $57,400.00. Following the completion of the acquisition, the chief executive officer now owns 37,666 shares of the company’s stock, valued at approximately $123,544.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 34,615 shares of company stock valued at $118,306 over the last quarter. 4.67% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Argent Capital Management LLC purchased a new position in CUI Global during the first quarter worth $840,000. Royce & Associates LP raised its position in shares of CUI Global by 37.0% in the first quarter. Royce & Associates LP now owns 613,425 shares of the industrial products company’s stock worth $2,908,000 after buying an additional 165,789 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of CUI Global by 2.9% in the first quarter. Clear Harbor Asset Management LLC now owns 1,183,447 shares of the industrial products company’s stock worth $5,610,000 after buying an additional 32,955 shares in the last quarter. WealthTrust Axiom LLC raised its position in shares of CUI Global by 10.5% in the second quarter. WealthTrust Axiom LLC now owns 514,594 shares of the industrial products company’s stock worth $1,976,000 after buying an additional 48,832 shares in the last quarter. Finally, Heartland Advisors Inc. raised its position in shares of CUI Global by 0.4% in the second quarter. Heartland Advisors Inc. now owns 2,234,850 shares of the industrial products company’s stock worth $8,582,000 after buying an additional 9,150 shares in the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on CUI shares. TheStreet lowered CUI Global from a “c-” rating to a “d+” rating in a research report on Monday, April 17th. Ladenburg Thalmann Financial Services started coverage on CUI Global in a research report on Wednesday, May 31st. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Zacks Investment Research raised CUI Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $9.00.
About CUI Global
CUI Global, Inc is a platform company. The Company’s segments include Power and Electromechanical, Energy and Other. The Power and Electromechanical segment includes its subsidiaries, CUI, Inc (CUI), CUI Japan and CUI-Canada, Inc, which provide electromechanical components, including power supplies, transformers, converters, connectors and industrial controls for original equipment manufacturers (OEMs).
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