Cubic (CUB) Upgraded by Zacks Investment Research to “Hold”
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. “
CUB has been the topic of a number of other reports. Drexel Hamilton set a $85.00 target price on shares of Cubic and gave the stock a buy rating in a research report on Tuesday, January 8th. ValuEngine lowered shares of Cubic from a buy rating to a hold rating in a research report on Monday, March 11th. Citigroup initiated coverage on shares of Cubic in a research report on Friday, February 15th. They set a buy rating and a $75.00 target price on the stock. Finally, Canaccord Genuity reduced their target price on shares of Cubic from $74.00 to $70.00 and set a buy rating on the stock in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Cubic presently has a consensus rating of Buy and an average target price of $73.01.
Cubic (NYSE:CUB) last issued its quarterly earnings data on Wednesday, February 6th. The scientific and technical instruments company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.10). Cubic had a return on equity of 2.30% and a net margin of 1.23%. The firm had revenue of $305.30 million for the quarter, compared to the consensus estimate of $288.55 million. During the same period in the prior year, the company posted ($0.36) earnings per share. Cubic’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts anticipate that Cubic will post 1.52 EPS for the current year.
The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, March 1st were given a dividend of $0.135 per share. The ex-dividend date was Thursday, February 28th. This represents a dividend yield of 0.44%. Cubic’s payout ratio is 42.19%.
Several hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in Cubic in the fourth quarter valued at approximately $29,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Cubic in the fourth quarter valued at approximately $76,000. Bank of Montreal Can lifted its holdings in Cubic by 10.1% in the fourth quarter. Bank of Montreal Can now owns 1,973 shares of the scientific and technical instruments company’s stock valued at $106,000 after buying an additional 181 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Cubic by 211.3% in the third quarter. Tower Research Capital LLC TRC now owns 1,743 shares of the scientific and technical instruments company’s stock valued at $127,000 after buying an additional 1,183 shares during the period. Finally, Amalgamated Bank acquired a new position in Cubic in the fourth quarter valued at approximately $212,000. Institutional investors own 94.46% of the company’s stock.
Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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