Zacks Investment Research upgraded shares of Cubic (NYSE:CUB) from a sell rating to a hold rating in a report issued on Tuesday.
According to Zacks, “Cubic Corporation is the parent company of two major business segments: defense and transportation. The Cubic Defense Applications group is a world leader in realistic combat training systems, mission support services and defense electronics. Cubic Transportation Systems designs and manufactures automatic fare collection systems for public transit authorities. Cubic Transportation Systems designs, manufactures and integrates automatic fare collection systems for public transit projects throughout the world. This includes rail, bus and parking lot systems. The company supplies contactless smart cards; magnetic stripe cards; device software; and transit hardware including gates, ticket machines and card readers. Cubic Defense Applications provides realistic live combat training systems for military forces as well as virtual training systems, constructive simulation support, force modernization, battle command training and education and engineering & technical support. “
Other research analysts have also recently issued reports about the company. TheStreet raised Cubic from a c rating to a b- rating in a report on Tuesday, November 21st. Needham & Company LLC boosted their price target on Cubic from $56.00 to $62.00 and gave the stock a buy rating in a report on Tuesday, November 21st. Canaccord Genuity reaffirmed a buy rating and set a $64.00 price objective (up from $55.00) on shares of Cubic in a report on Tuesday, November 21st. JPMorgan Chase & Co. cut Cubic from an overweight rating to a neutral rating and set a $59.00 price objective on the stock. in a report on Monday, November 27th. Finally, Raymond James Financial reaffirmed an outperform rating and set a $62.00 price objective (down from $64.00) on shares of Cubic in a report on Friday, January 19th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $61.00.
Cubic (NYSE:CUB) last posted its quarterly earnings results on Tuesday, February 6th. The scientific and technical instruments company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.33). Cubic had a negative return on equity of 1.27% and a negative net margin of 1.21%. The business had revenue of $340.70 million during the quarter, compared to analysts’ expectations of $338.21 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. analysts anticipate that Cubic will post 1.18 earnings per share for the current year.
The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, March 12th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a dividend yield of 0.44%. Cubic’s dividend payout ratio (DPR) is -32.53%.
Several institutional investors and hedge funds have recently modified their holdings of CUB. Teachers Advisors LLC raised its holdings in shares of Cubic by 426.8% during the 4th quarter. Teachers Advisors LLC now owns 240,193 shares of the scientific and technical instruments company’s stock worth $14,159,000 after acquiring an additional 194,594 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Cubic during the 4th quarter worth approximately $11,314,000. Rutabaga Capital Management LLC MA purchased a new stake in shares of Cubic during the 4th quarter worth approximately $10,704,000. Cortina Asset Management LLC raised its holdings in shares of Cubic by 79.5% during the 3rd quarter. Cortina Asset Management LLC now owns 367,109 shares of the scientific and technical instruments company’s stock worth $18,723,000 after acquiring an additional 162,572 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Cubic by 408.9% during the 4th quarter. Deutsche Bank AG now owns 121,949 shares of the scientific and technical instruments company’s stock worth $7,186,000 after acquiring an additional 97,986 shares in the last quarter. 88.74% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This story was first published by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://weekherald.com/2018/03/14/cubic-cub-lifted-to-hold-at-zacks-investment-research.html.
Cubic Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cubic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cubic and related companies with MarketBeat.com's FREE daily email newsletter.