OppenheimerFunds Inc. lowered its stake in shares of Cubic Co. (NYSE:CUB) by 24.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,963 shares of the scientific and technical instruments company’s stock after selling 5,634 shares during the period. OppenheimerFunds Inc. owned approximately 0.06% of Cubic worth $1,000,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of Cubic during the 3rd quarter worth approximately $106,000. Cubist Systematic Strategies LLC purchased a new position in shares of Cubic during the 3rd quarter worth approximately $159,000. Gofen & Glossberg LLC IL purchased a new position in shares of Cubic during the 4th quarter worth approximately $205,000. Harbour Capital Advisors LLC purchased a new position in shares of Cubic during the 4th quarter worth approximately $280,000. Finally, Aperio Group LLC purchased a new position in shares of Cubic during the 4th quarter worth approximately $303,000. 88.74% of the stock is owned by hedge funds and other institutional investors.
Cubic Co. (NYSE CUB) opened at $65.00 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.65 and a quick ratio of 1.37. Cubic Co. has a 1 year low of $39.58 and a 1 year high of $66.20.
Cubic (NYSE:CUB) last issued its quarterly earnings results on Tuesday, February 6th. The scientific and technical instruments company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.33). Cubic had a negative net margin of 1.21% and a negative return on equity of 1.27%. The business had revenue of $340.70 million during the quarter, compared to analysts’ expectations of $338.21 million. During the same period in the prior year, the business earned ($0.11) EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. analysts forecast that Cubic Co. will post 1.18 EPS for the current fiscal year.
The firm also recently declared a Semi-Annual dividend, which was paid on Monday, March 12th. Shareholders of record on Thursday, March 1st were given a $0.135 dividend. The ex-dividend date was Wednesday, February 28th. This represents a yield of 0.44%. Cubic’s dividend payout ratio is presently -40.91%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Cubic from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet cut shares of Cubic from a “b-” rating to a “c” rating in a research report on Thursday, February 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $62.00 price objective (down previously from $64.00) on shares of Cubic in a research report on Friday, January 19th. JPMorgan Chase & Co. cut shares of Cubic from an “overweight” rating to a “neutral” rating and set a $59.00 price target for the company. in a research report on Monday, November 27th. Finally, Needham & Company LLC raised their price target on shares of Cubic from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $61.00.
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Cubic 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).
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