Needham & Company Maintains a 'Hold' on Cubic (CUB); Solid Finish To F11; Backlog Healthy; F12 Likely To Be Transition Year
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Price: $10.85 -0.18%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Cubic (NYSE: CUB).
Needham analyst says, "CUB turned in a solid FQ4 report yesterday, although EPS were helped by Fx gains and other one-time items. Total funded backlog remained stable, with Defense backlog up 11% while Transportation backlog was down 8%. We expect growth in the defense business to moderate over the next year, which coupled with expense related to the large Chicago Transportation Authority contract, is likely to make F12 a transition year, with EPS expected to accelerate in the F13-F14 time frame."
"We are reducing our F12 EPS est. to $2.90 from $3.10, which reflects startup related expense for the Chicago contract, as well as moderating growth in defense. We are initiating a F13 EPS estimate of $3.10 on revenues of $1.5B, up from an estimated $1.34B in F12."
For an analyst ratings summary and ratings history on Cubic click here. For more ratings news on Cubic click here.
Shares of Cubic closed at $43.61 yesterday.
Needham analyst says, "CUB turned in a solid FQ4 report yesterday, although EPS were helped by Fx gains and other one-time items. Total funded backlog remained stable, with Defense backlog up 11% while Transportation backlog was down 8%. We expect growth in the defense business to moderate over the next year, which coupled with expense related to the large Chicago Transportation Authority contract, is likely to make F12 a transition year, with EPS expected to accelerate in the F13-F14 time frame."
"We are reducing our F12 EPS est. to $2.90 from $3.10, which reflects startup related expense for the Chicago contract, as well as moderating growth in defense. We are initiating a F13 EPS estimate of $3.10 on revenues of $1.5B, up from an estimated $1.34B in F12."
For an analyst ratings summary and ratings history on Cubic click here. For more ratings news on Cubic click here.
Shares of Cubic closed at $43.61 yesterday.
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