Cubic Hits New 1-Year Low Following Weak Earnings (CUB)
Cubic (NYSE:CUB) hit a new 52-week low during mid-day trading on Tuesday following a weaker than expected earnings announcement, Analyst Ratings.Net reports. The company traded as low as $40.69 and last traded at $42.88, with a volume of 182,954 shares traded. The stock had previously closed at $43.91.
The company reported $0.45 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.75 by $0.30. The company had revenue of $340.40 million for the quarter, compared to the consensus estimate of $370.90 million.
The company also recently declared a semiannual dividend, which is scheduled for Monday, August 25th. Investors of record on Monday, August 11th will be given a dividend of $0.12 per share. This represents a yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 7th.
A number of research firms have recently commented on CUB. Analysts at Needham & Company LLC cut their price target on shares of Cubic from $54.00 to $48.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Cubic from $51.00 to $49.00 in a research note on Tuesday. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Cubic from $57.00 to $55.00 in a research note on Thursday, July 31st. They now have an “overweight” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.14.
The stock has a 50-day moving average of $44.74 and a 200-day moving average of $48.65. The company has a market cap of $1.153 billion and a price-to-earnings ratio of 207.12.
Cubic Corporation (NYSE:CUB) is an international provider of systems and solutions that address the mass transit and global defense markets.
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