Cubic Corporation (CUB) Cut to “Sell” at ValuEngine

ValuEngine cut shares of Cubic Corporation (NYSE:CUB) from a hold rating to a sell rating in a research note published on Friday, August 4th.

Several other equities research analysts also recently weighed in on the company. Canaccord Genuity cut their price objective on Cubic Corporation from $60.00 to $50.00 and set a buy rating on the stock in a report on Friday, August 4th. Zacks Investment Research downgraded Cubic Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. BidaskClub raised Cubic Corporation from a hold rating to a buy rating in a research report on Wednesday, July 12th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $52.00 target price (down from $55.00) on shares of Cubic Corporation in a research report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $53.40.

Cubic Corporation (NYSE:CUB) traded down 0.82% during mid-day trading on Friday, hitting $42.35. The stock had a trading volume of 159,364 shares. The stock’s 50 day moving average price is $45.76 and its 200 day moving average price is $48.53. The firm’s market capitalization is $1.15 billion. Cubic Corporation has a one year low of $39.50 and a one year high of $55.65.

Cubic Corporation (NYSE:CUB) last announced its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.86. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The firm had revenue of $361.87 million for the quarter, compared to the consensus estimate of $383.47 million. During the same quarter last year, the business posted $0.17 EPS. Cubic Corporation’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts forecast that Cubic Corporation will post ($0.58) EPS for the current year.

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The business also recently disclosed a semiannual dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.135 per share. This represents a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, August 30th. Cubic Corporation’s dividend payout ratio is currently -22.69%.

A number of hedge funds have recently modified their holdings of the company. Meadow Creek Investment Management LLC raised its stake in shares of Cubic Corporation by 11.3% in the first quarter. Meadow Creek Investment Management LLC now owns 2,006 shares of the scientific and technical instruments company’s stock worth $106,000 after buying an additional 204 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Cubic Corporation during the first quarter worth approximately $115,000. Bessemer Group Inc. bought a new stake in shares of Cubic Corporation during the second quarter worth approximately $125,000. State of Alaska Department of Revenue raised its stake in shares of Cubic Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,750 shares of the scientific and technical instruments company’s stock worth $145,000 after buying an additional 60 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Cubic Corporation during the second quarter worth approximately $208,000. 88.93% of the stock is owned by hedge funds and other institutional investors.

Cubic Corporation Company Profile

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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