OppenheimerFunds Inc. reduced its position in Cubic Co. (NYSE:CUB) by 24.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,963 shares of the scientific and technical instruments company’s stock after selling 5,634 shares during the period. OppenheimerFunds Inc. owned 0.06% of Cubic worth $1,000,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Cubic during the 3rd quarter valued at approximately $106,000. Cubist Systematic Strategies LLC acquired a new stake in Cubic during the 3rd quarter valued at approximately $159,000. Gofen & Glossberg LLC IL purchased a new position in shares of Cubic during the 4th quarter valued at approximately $205,000. Harbour Capital Advisors LLC purchased a new position in shares of Cubic during the 4th quarter valued at approximately $280,000. Finally, Aperio Group LLC purchased a new position in shares of Cubic during the 4th quarter valued at approximately $303,000. Institutional investors and hedge funds own 88.76% of the company’s stock.
NYSE CUB traded down $2.40 during trading hours on Friday, reaching $61.75. The company had a trading volume of 186,382 shares, compared to its average volume of 176,788. Cubic Co. has a 1-year low of $39.58 and a 1-year high of $66.20. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.65 and a quick ratio of 1.37. The stock has a market capitalization of $1,681.02, a P/E ratio of -150.61 and a beta of 0.94.
Cubic (NYSE:CUB) last posted its earnings results on Tuesday, February 6th. The scientific and technical instruments company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.33). The company had revenue of $340.70 million during the quarter, compared to analyst estimates of $338.21 million. Cubic had a negative net margin of 1.21% and a negative return on equity of 1.27%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) EPS. analysts anticipate that Cubic Co. will post 1.18 EPS for the current 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 paid a dividend of $0.135 per share. The ex-dividend date was Wednesday, February 28th. This represents a yield of 0.44%. Cubic’s dividend payout ratio (DPR) is presently -65.85%.
Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Cubic from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research raised shares of Cubic from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. TheStreet lowered shares of Cubic from a “b-” rating to a “c” rating in a report on Thursday, February 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $62.00 target price (down previously from $64.00) on shares of Cubic in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.00.
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Cubic Corporation provides systems and solutions for the transportation and defense markets in the United States and internationally. It operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), and Cubic Global Defense Services (CGD Services). The CTS segment provides fare collection and revenue management devices, software, systems and multiagency, multimodal integration technologies, and operational services for transportation authorities and operators.
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