Analysts expect Hubbell Incorporated (NYSE:HUBB) to post earnings of $1.69 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Hubbell’s earnings, with estimates ranging from $1.68 to $1.71. Hubbell posted earnings per share of $1.54 during the same quarter last year, which indicates a positive year over year growth rate of 9.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, January 29th.
According to Zacks, analysts expect that Hubbell will report full-year earnings of $7.26 per share for the current fiscal year, with EPS estimates ranging from $7.25 to $7.28. For the next fiscal year, analysts forecast that the business will post earnings of $7.88 per share, with EPS estimates ranging from $7.68 to $8.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that cover Hubbell.
Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.11. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Hubbell had a return on equity of 23.08% and a net margin of 6.88%. Hubbell’s revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS.
Several equities analysts recently commented on HUBB shares. Morgan Stanley set a $131.00 target price on Hubbell and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. ValuEngine downgraded Hubbell from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Finally, Wolfe Research upgraded Hubbell to a “buy” rating and set a $131.00 price objective for the company in a research report on Wednesday, October 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $137.83.
Shares of Hubbell stock traded up $3.48 during midday trading on Friday, hitting $110.16. 491,586 shares of the company were exchanged, compared to its average volume of 395,755. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.88 and a quick ratio of 1.16. The company has a market capitalization of $6.03 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.52 and a beta of 1.34. Hubbell has a 52 week low of $97.02 and a 52 week high of $149.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.84 dividend. This is an increase from Hubbell’s previous quarterly dividend of $0.77. The ex-dividend date is Thursday, November 29th. This represents a $3.36 annualized dividend and a yield of 3.05%. Hubbell’s payout ratio is presently 56.66%.
In other Hubbell news, Director John F. Malloy acquired 994 shares of the business’s stock in a transaction on Friday, October 26th. The stock was purchased at an average price of $100.82 per share, for a total transaction of $100,215.08. Following the transaction, the director now owns 13,020 shares in the company, valued at approximately $1,312,676.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Neal J. Keating acquired 1,000 shares of the business’s stock in a transaction on Monday, October 29th. The stock was acquired at an average price of $101.55 per share, with a total value of $101,550.00. Following the transaction, the director now owns 6,971 shares in the company, valued at approximately $707,905.05. The disclosure for this purchase can be found here. Insiders own 0.69% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Hubbell by 0.7% during the third quarter. Vanguard Group Inc. now owns 5,362,450 shares of the industrial products company’s stock worth $716,262,000 after acquiring an additional 39,278 shares during the last quarter. BlackRock Inc. raised its position in shares of Hubbell by 4.1% during the third quarter. BlackRock Inc. now owns 5,152,527 shares of the industrial products company’s stock worth $688,223,000 after acquiring an additional 200,582 shares during the last quarter. American Century Companies Inc. raised its position in shares of Hubbell by 46.5% during the second quarter. American Century Companies Inc. now owns 2,792,582 shares of the industrial products company’s stock worth $295,288,000 after acquiring an additional 885,909 shares during the last quarter. FMR LLC raised its position in shares of Hubbell by 25.5% during the second quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock worth $175,788,000 after acquiring an additional 337,915 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Hubbell by 6.2% during the third quarter. Victory Capital Management Inc. now owns 1,122,227 shares of the industrial products company’s stock worth $149,895,000 after acquiring an additional 65,241 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies for the natural gas distribution market.
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