Cubic Corporation (CUB) Sees Large Volume Increase on Earnings Beat

Cubic Corporation (NYSE:CUB) shares saw an uptick in trading volume on Tuesday following a stronger than expected earnings report. 858,690 shares traded hands during mid-day trading, an increase of 526% from the previous session’s volume of 137,246 shares.The stock last traded at $60.75 and had previously closed at $53.50.

The scientific and technical instruments company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.35. The firm had revenue of $445.60 million during the quarter, compared to analyst estimates of $436.76 million. Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.74%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.28) EPS.

A number of brokerages have recently weighed in on CUB. Canaccord Genuity restated a “buy” rating and issued a $50.00 price objective on shares of Cubic Corporation in a report on Thursday, August 10th. J P Morgan Chase & Co upgraded shares of Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price objective for the company in a report on Thursday, August 10th. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective (down from $52.00) on shares of Cubic Corporation in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Cubic Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Finally, ValuEngine upgraded shares of Cubic Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $59.17.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Cubic Corporation by 1.3% during the 2nd quarter. BlackRock Inc. now owns 3,829,369 shares of the scientific and technical instruments company’s stock valued at $177,300,000 after buying an additional 48,214 shares during the last quarter. Vanguard Group Inc. raised its holdings in Cubic Corporation by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 2,155,681 shares of the scientific and technical instruments company’s stock valued at $113,820,000 after buying an additional 92,168 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cubic Corporation by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,783,929 shares of the scientific and technical instruments company’s stock valued at $90,980,000 after buying an additional 53,330 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Cubic Corporation by 14.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,191,000 shares of the scientific and technical instruments company’s stock valued at $55,143,000 after buying an additional 151,000 shares during the last quarter. Finally, Pzena Investment Management LLC raised its holdings in Cubic Corporation by 3.5% during the 3rd quarter. Pzena Investment Management LLC now owns 946,046 shares of the scientific and technical instruments company’s stock valued at $48,248,000 after buying an additional 31,917 shares during the last quarter. Institutional investors own 86.52% of the company’s stock.

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.41 and a current ratio of 1.71.

COPYRIGHT VIOLATION WARNING: This piece was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.chaffeybreeze.com/2017/11/21/cubic-corporation-cub-sees-large-volume-increase-on-earnings-beat.html.

About Cubic Corporation

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).

Receive News & Ratings for Cubic Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cubic Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply