Wall Street analysts expect Hubbell Incorporated (NYSE:HUBB) to report earnings per share (EPS) of $1.39 for the current quarter, Zacks reports. Three analysts have issued estimates for Hubbell’s earnings. The lowest EPS estimate is $1.33 and the highest is $1.46. Hubbell posted earnings per share of $1.23 during the same quarter last year, which indicates a positive year-over-year growth rate of 13%. The business is scheduled to issue its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Hubbell will report full-year earnings of $7.19 per share for the current fiscal year, with EPS estimates ranging from $7.15 to $7.27. For the next financial year, analysts forecast that the company will post earnings of $8.02 per share, with EPS estimates ranging from $7.95 to $8.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Hubbell.
Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.12. Hubbell had a return on equity of 20.16% and a net margin of 6.63%. The firm had revenue of $917.70 million during the quarter, compared to analyst estimates of $901.23 million. During the same period in the previous year, the company earned $1.35 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis.
Several equities research analysts recently weighed in on HUBB shares. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a report on Tuesday, January 23rd. Wells Fargo & Co restated a “buy” rating and issued a $143.00 target price (up from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Oppenheimer restated a “buy” rating and issued a $160.00 target price on shares of Hubbell in a report on Tuesday, January 30th. Wolfe Research upgraded Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 price target for the company in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Hubbell has an average rating of “Buy” and a consensus price target of $152.00.
In related news, Chairman David G. Nord sold 12,076 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total value of $1,615,285.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen M. Mais sold 4,692 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $135.59, for a total value of $636,188.28. Following the completion of the transaction, the vice president now owns 16,669 shares of the company’s stock, valued at $2,260,149.71. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Hubbell by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 2,027,573 shares of the industrial products company’s stock valued at $234,915,000 after purchasing an additional 25,710 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Hubbell by 0.3% in the fourth quarter. American Century Companies Inc. now owns 1,776,319 shares of the industrial products company’s stock valued at $240,407,000 after purchasing an additional 5,685 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Hubbell by 21.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,531,331 shares of the industrial products company’s stock valued at $207,251,000 after purchasing an additional 272,407 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Hubbell by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,093,990 shares of the industrial products company’s stock valued at $148,061,000 after purchasing an additional 87,787 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of Hubbell by 0.8% in the third quarter. Royce & Associates LP now owns 996,135 shares of the industrial products company’s stock valued at $115,572,000 after purchasing an additional 8,113 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.
Hubbell (NYSE:HUBB) traded up $2.77 on Friday, reaching $127.74. The company had a trading volume of 149,423 shares, compared to its average volume of 413,655. Hubbell has a 12-month low of $109.32 and a 12-month high of $149.03. The company has a current ratio of 2.27, a quick ratio of 1.37 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6,925.66, a price-to-earnings ratio of 29.04, a P/E/G ratio of 1.76 and a beta of 1.00.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.77 per share. The ex-dividend date was Tuesday, February 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.41%. Hubbell’s dividend payout ratio (DPR) is presently 70.00%.
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Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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