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