Credit Suisse Reiterates Hold Rating for Cubic (CUB)
Cubic (NYSE:CUB)‘s stock had its “hold” rating reiterated by analysts at Credit Suisse in a research report issued to clients and investors on Tuesday. They currently have a $49.00 price objective on the stock, down from their previous price objective of $51.00. Credit Suisse’s price target would suggest a potential upside of 15.02% from the company’s current price.
Cubic (NYSE:CUB) traded down 2.98% on Tuesday, hitting $42.60. 316,287 shares of the company’s stock traded hands. Cubic has a 52-week low of $40.69 and a 52-week high of $56.92. The stock’s 50-day moving average is $44. and its 200-day moving average is $48.58. The company has a market cap of $1.141 billion and a price-to-earnings ratio of 207.12.
Cubic (NYSE:CUB) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the 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. Analysts expect that Cubic will post $2.63 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which is scheduled for Monday, August 25th. Shareholders 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.
Several other analysts have also recently commented on the stock. 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. Separately, analysts at Needham & Company LLC cut their price target on shares of Cubic from $56.00 to $54.00 in a research note on Tuesday, May 13th. They now have a “buy” rating on the stock. Finally, analysts at Benchmark Co. downgraded shares of Cubic from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.14.
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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