Cubic Co. (CUB) Expected to Announce Quarterly Sales of $351.88 Million

Analysts expect Cubic Co. (NYSE:CUB) to post $351.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cubic’s earnings. The highest sales estimate is $352.29 million and the lowest is $351.46 million. Cubic posted sales of $343.71 million during the same quarter last year, which suggests a positive year over year growth rate of 2.4%. The company is expected to issue its next quarterly earnings results on Monday, May 14th.

According to Zacks, analysts expect that Cubic will report full-year sales of $351.88 million for the current year. For the next fiscal year, analysts expect that the firm will report sales of $1.69 billion per share, with estimates ranging from $1.64 billion to $1.75 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Cubic.

Cubic (NYSE:CUB) last issued its earnings results on Tuesday, February 6th. The scientific and technical instruments company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.33). The firm had revenue of $340.70 million for the quarter, compared to the consensus estimate of $338.21 million. Cubic had a negative net margin of 1.21% and a negative return on equity of 1.27%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share.

CUB has been the subject of a number of research analyst reports. TheStreet raised Cubic from a “c” rating to a “b-” rating in a research report on Tuesday, November 21st. Needham & Company LLC lifted their target price on Cubic from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $64.00 target price (up from $55.00) on shares of Cubic in a research report on Tuesday, November 21st. JPMorgan Chase & Co. lowered Cubic from an “overweight” rating to a “neutral” rating and set a $59.00 price target for the company. in a research report on Monday, November 27th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $62.00 price target (down from $64.00) on shares of Cubic in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.00.

Shares of Cubic (CUB) traded up $2.95 during midday trading on Friday, reaching $57.00. The company’s stock had a trading volume of 532,975 shares, compared to its average volume of 142,054. The company has a current ratio of 1.65, a quick ratio of 1.42 and a debt-to-equity ratio of 0.29. The company has a market cap of $1,471.40, a price-to-earnings ratio of -86.36 and a beta of 1.09. Cubic has a 1-year low of $39.58 and a 1-year high of $64.95.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CUB. Rutabaga Capital Management LLC MA bought a new position in shares of Cubic in the 4th quarter worth $10,704,000. Cortina Asset Management LLC raised its position in shares of Cubic by 79.5% in 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. Systematic Financial Management LP bought a new position in shares of Cubic in the 3rd quarter worth $4,014,000. Granite Investment Partners LLC raised its position in shares of Cubic by 35.1% in the 3rd quarter. Granite Investment Partners LLC now owns 301,266 shares of the scientific and technical instruments company’s stock worth $15,364,000 after acquiring an additional 78,192 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Cubic in the 4th quarter worth $3,654,000. 90.36% of the stock is owned by hedge funds and other institutional investors.

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About Cubic

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).

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