Raymond James Financial, Inc. upgraded shares of Cubic Corporation (NYSE:CUB) from a market perform rating to a strong-buy rating in a research note issued to investors on Friday morning. Raymond James Financial, Inc. currently has $60.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $53.00.

A number of other analysts have also issued reports on CUB. BidaskClub upgraded shares of Cubic Corporation from a hold rating to a buy rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered shares of Cubic Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. Canaccord Genuity cut their target price on shares of Cubic Corporation from $60.00 to $50.00 and set a buy rating on the stock in a research note on Friday, August 4th. ValuEngine lowered shares of Cubic Corporation from a hold rating to a sell rating in a research note on Friday, August 4th. Finally, Needham & Company LLC restated a buy rating and set a $48.00 target price (down from $52.00) on shares of Cubic Corporation in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued 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 target price of $54.50.

Cubic Corporation (NYSE CUB) traded up 10.26% on Friday, reaching $51.60. 478,501 shares of the company’s stock were exchanged. The stock’s market cap is $1.40 billion. Cubic Corporation has a one year low of $39.50 and a one year high of $55.65. The firm has a 50 day moving average of $43.32 and a 200-day moving average of $47.36.

Cubic Corporation (NYSE:CUB) last issued its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.86). The business had revenue of $361.87 million for the quarter, compared to analysts’ expectations of $383.47 million. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. Equities research analysts forecast that Cubic Corporation will post ($0.58) EPS for the current fiscal year.

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The company also recently announced a semiannual dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.135 per share. The ex-dividend date was Wednesday, August 30th. This represents a dividend yield of 0.62%. Cubic Corporation’s payout ratio is -22.69%.

Several hedge funds have recently added to or reduced their stakes in CUB. Wells Fargo & Company MN increased its stake in shares of Cubic Corporation by 28.6% during the first quarter. Wells Fargo & Company MN now owns 89,419 shares of the scientific and technical instruments company’s stock worth $4,721,000 after buying an additional 19,887 shares during the period. US Bancorp DE increased its stake in shares of Cubic Corporation by 4.5% during the first quarter. US Bancorp DE now owns 9,929 shares of the scientific and technical instruments company’s stock worth $525,000 after buying an additional 431 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Cubic Corporation by 10.5% during the first quarter. Bank of New York Mellon Corp now owns 337,169 shares of the scientific and technical instruments company’s stock worth $17,802,000 after buying an additional 32,056 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Cubic Corporation by 12.6% during the first quarter. BNP Paribas Arbitrage SA now owns 7,640 shares of the scientific and technical instruments company’s stock worth $403,000 after buying an additional 857 shares during the period. Finally, Comerica Bank increased its stake in shares of Cubic Corporation by 3.8% during the first quarter. Comerica Bank now owns 27,639 shares of the scientific and technical instruments company’s stock worth $1,469,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Cubic Corporation

Cubic Corporation (Cubic) designs, integrates and operates systems, products and services that provide situational awareness for its customers in the transportation and defense industries. The Company operates in three business segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense (CGD) and Cubic Global Defense Services (CGD Services).

Analyst Recommendations for Cubic Corporation (NYSE:CUB)

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