Zacks: Brokerages Expect Cubic Co. (CUB) Will Announce Earnings of $1.02 Per Share

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Equities research analysts expect Cubic Co. (NYSE:CUB) to post earnings of $1.02 per share for the current quarter, according to Zacks. Three analysts have made estimates for Cubic’s earnings, with estimates ranging from $0.98 to $1.09. Cubic posted earnings of $0.49 per share in the same quarter last year, which would indicate a positive year over year growth rate of 108.2%. The business is expected to report its next earnings report on Monday, November 19th.

According to Zacks, analysts expect that Cubic will report full year earnings of $0.52 per share for the current fiscal year, with EPS estimates ranging from $0.47 to $0.57. For the next year, analysts expect that the firm will report earnings of $2.29 per share, with EPS estimates ranging from $2.11 to $2.42. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Cubic.

Cubic (NYSE:CUB) last announced its quarterly earnings data on Wednesday, August 8th. The scientific and technical instruments company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.08). Cubic had a net margin of 0.57% and a return on equity of 1.54%. The company had revenue of $296.21 million for the quarter, compared to analysts’ expectations of $280.33 million. During the same period in the prior year, the firm earned ($2.89) earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis.

CUB has been the topic of several recent research reports. Needham & Company LLC lowered shares of Cubic from a “buy” rating to a “hold” rating in a report on Monday, May 14th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Cubic from a “hold” rating to a “strong sell” rating in a report on Monday, August 13th. ValuEngine upgraded shares of Cubic from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 8th. Canaccord Genuity lifted their target price on shares of Cubic from $76.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Drexel Hamilton restated a “buy” rating and set a $85.00 target price on shares of Cubic in a report on Thursday, August 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $71.00.

In other news, SVP Mark Harrison sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $73.69, for a total value of $73,690.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David H. Buss sold 2,917 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $74.00, for a total transaction of $215,858.00. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Cubic by 4.1% in the 2nd quarter. BlackRock Inc. now owns 4,347,887 shares of the scientific and technical instruments company’s stock valued at $279,135,000 after purchasing an additional 172,274 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Cubic in the 1st quarter valued at about $58,333,000. Northern Trust Corp raised its stake in shares of Cubic by 0.7% in the 1st quarter. Northern Trust Corp now owns 641,353 shares of the scientific and technical instruments company’s stock valued at $40,790,000 after purchasing an additional 4,270 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of Cubic by 13.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 358,416 shares of the scientific and technical instruments company’s stock valued at $22,780,000 after buying an additional 41,781 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in shares of Cubic by 16.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 342,216 shares of the scientific and technical instruments company’s stock valued at $21,970,000 after buying an additional 48,417 shares during the last quarter. Institutional investors and hedge funds own 97.02% of the company’s stock.

Shares of NYSE CUB traded down $0.65 during trading on Friday, hitting $74.75. 928 shares of the company traded hands, compared to its average volume of 127,964. The company has a quick ratio of 1.76, a current ratio of 2.22 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $2.06 billion, a PE ratio of -183.05 and a beta of 1.05. Cubic has a 1 year low of $42.50 and a 1 year high of $77.35.

The company also recently disclosed a semiannual dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 30th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a yield of 0.4%. Cubic’s dividend payout ratio is currently -65.85%.

About Cubic

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 four segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), Cubic Mission Solutions (CMS), and Cubic Global Defense Services (CGD Services).

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