Needham & Company LLC Cuts Cubic Corp. (CUB) Price Target to $45.00
Cubic Corp. (NYSE:CUB) had its target price decreased by equities research analysts at Needham & Company LLC from $48.00 to $45.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 12.42% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. Canaccord Genuity reissued a “buy” rating and set a $50.00 target price on shares of Cubic Corp. in a research report on Thursday, August 11th. Credit Suisse Group AG reissued a “buy” rating on shares of Cubic Corp. in a research report on Saturday, July 9th. Finally, Zacks Investment Research raised shares of Cubic Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Cubic Corp. currently has an average rating of “Buy” and a consensus price target of $47.00.
Cubic Corp. (NYSE:CUB) opened at 40.03 on Friday. The company’s 50-day moving average is $46.53 and its 200-day moving average is $42.60. Cubic Corp. has a 12 month low of $30.11 and a 12 month high of $49.79. The company has a market cap of $1.08 billion, a P/E ratio of 37.13 and a beta of 1.12.
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Cubic Corp. (NYSE:CUB) last posted its earnings results on Wednesday, August 3rd. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.12. The business had revenue of $375.20 million for the quarter, compared to analysts’ expectations of $387.41 million. Cubic Corp. had a net margin of 1.97% and a return on equity of 5.60%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. On average, equities research analysts expect that Cubic Corp. will post $0.92 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.135 dividend. This represents a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, August 29th. Cubic Corp.’s payout ratio is currently 24.77%.
A number of hedge funds have recently added to or reduced their stakes in CUB. Franklin Resources Inc. boosted its stake in Cubic Corp. by 677.8% in the first quarter. Franklin Resources Inc. now owns 972,200 shares of the company’s stock worth $38,849,000 after buying an additional 847,200 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cubic Corp. by 15.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,386,113 shares of the company’s stock worth $55,666,000 after buying an additional 188,029 shares during the period. BlackRock Fund Advisors boosted its stake in Cubic Corp. by 9.4% in the second quarter. BlackRock Fund Advisors now owns 1,697,276 shares of the company’s stock worth $68,163,000 after buying an additional 145,283 shares during the period. Vanguard Group Inc. boosted its stake in Cubic Corp. by 6.6% in the second quarter. Vanguard Group Inc. now owns 1,816,307 shares of the company’s stock worth $72,943,000 after buying an additional 112,938 shares during the period. Finally, RidgeWorth Capital Management LLC boosted its stake in Cubic Corp. by 16.0% in the second quarter. RidgeWorth Capital Management LLC now owns 806,794 shares of the company’s stock worth $32,385,000 after buying an additional 111,402 shares during the period. Institutional investors own 88.16% of the company’s stock.
About Cubic Corp.
Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates through three segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems) and Cubic Global Defense Services (CGD Services).
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