Cubic Co. (NYSE:CUB) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 1,780,000 shares, a drop of 15.2% from the March 31st total of 2,100,000 shares. Based on an average trading volume of 537,500 shares, the days-to-cover ratio is currently 3.3 days.
A number of research firms recently issued reports on CUB. Zacks Investment Research lowered Cubic from a "buy" rating to a "hold" rating in a research report on Thursday, February 11th. Needham & Company LLC downgraded Cubic from a "buy" rating to a "hold" rating in a report on Tuesday, February 9th. Truist cut Cubic from a "buy" rating to a "hold" rating in a research report on Tuesday, February 9th. William Blair cut Cubic from an "outperform" rating to a "market perform" rating in a research report on Monday, February 8th. Finally, Canaccord Genuity reaffirmed a "hold" rating on shares of Cubic in a research report on Tuesday, March 23rd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of "Hold" and a consensus price target of $66.36.
Shares of Cubic stock opened at $74.80 on Tuesday. The company has a market capitalization of $2.38 billion, a PE ratio of -575.38 and a beta of 0.89. Cubic has a 12 month low of $31.01 and a 12 month high of $78.13. The company has a current ratio of 1.30, a quick ratio of 1.08 and a debt-to-equity ratio of 0.60. The stock's fifty day simple moving average is $74.08 and its 200 day simple moving average is $66.36.
Cubic (NYSE:CUB) last released its quarterly earnings results on Monday, February 8th. The scientific and technical instruments company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.01 by $0.37. The firm had revenue of $318.80 million for the quarter, compared to the consensus estimate of $329.22 million. Cubic had a positive return on equity of 10.97% and a negative net margin of 0.26%. The company's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. Analysts predict that Cubic will post 3.22 EPS for the current fiscal year.
The firm also recently declared a semi-annual dividend, which was paid on Friday, March 12th. Investors of record on Tuesday, March 2nd were issued a dividend of $0.135 per share. This represents a yield of 0.4%. The ex-dividend date was Monday, March 1st. Cubic's payout ratio is currently 8.13%.
Institutional investors have recently bought and sold shares of the stock. Vantage Consulting Group Inc bought a new position in Cubic during the fourth quarter worth about $29,000. Veriti Management LLC bought a new position in Cubic during the fourth quarter worth about $76,000. Crossmark Global Holdings Inc. bought a new position in Cubic during the first quarter worth about $223,000. Lazard Asset Management LLC bought a new position in Cubic during the fourth quarter worth about $193,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Cubic during the fourth quarter worth about $191,000.
Cubic Corporation designs, integrates, and operates systems, products, and services for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers worldwide. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Mission Solutions (CMS), and Cubic Global Defense (CGD) Systems.
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