Brokerages expect Hubbell Incorporated (NYSE:HUBB) to report sales of $970.82 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Hubbell’s earnings. The lowest sales estimate is $966.75 million and the highest is $978.70 million. Hubbell posted sales of $852.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 13.9%. The business is scheduled to issue its next earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Hubbell will report full-year sales of $970.82 million for the current financial year, with estimates ranging from $4.24 billion to $4.35 billion. For the next year, analysts anticipate that the firm will report sales of $4.51 billion per share, with estimates ranging from $4.44 billion to $4.58 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Hubbell.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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 company had revenue of $917.70 million for the quarter, compared to analyst estimates of $901.23 million. During the same quarter last year, the firm earned $1.35 EPS. Hubbell’s revenue for the quarter was up 7.4% compared to the same quarter last year.
Several brokerages recently commented on HUBB. Zacks Investment Research lowered Hubbell from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 4th. Morgan Stanley decreased their price target on Hubbell from $153.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, March 12th. Wolfe Research raised Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Friday, February 9th. Oppenheimer reaffirmed a “buy” rating and issued a $160.00 price target on shares of Hubbell in a research note on Tuesday, January 30th. Finally, JPMorgan Chase raised Hubbell from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $152.00.
In other Hubbell news, VP Stephen M. Mais sold 4,692 shares of Hubbell stock in a transaction on Thursday, February 15th. The stock was 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 in the company, valued at approximately $2,260,149.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David G. Nord sold 12,076 shares of Hubbell stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $133.76, for a total value of $1,615,285.76. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Glenmede Trust Co. NA raised its position in Hubbell by 3.8% in the 4th quarter. Glenmede Trust Co. NA now owns 12,693 shares of the industrial products company’s stock valued at $1,717,000 after purchasing an additional 463 shares during the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in Hubbell by 3.7% in the 4th quarter. Liberty Mutual Group Asset Management Inc. now owns 13,886 shares of the industrial products company’s stock valued at $1,879,000 after purchasing an additional 497 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Hubbell by 6.8% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,980 shares of the industrial products company’s stock valued at $926,000 after purchasing an additional 509 shares during the last quarter. Aperio Group LLC raised its position in Hubbell by 4.8% in the 4th quarter. Aperio Group LLC now owns 11,123 shares of the industrial products company’s stock valued at $1,505,000 after purchasing an additional 510 shares during the last quarter. Finally, Amalgamated Bank raised its position in Hubbell by 5.7% in the 4th quarter. Amalgamated Bank now owns 11,316 shares of the industrial products company’s stock valued at $1,532,000 after purchasing an additional 613 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.
HUBB stock traded down $0.02 during trading on Wednesday, hitting $117.37. The company had a trading volume of 307,368 shares, compared to its average volume of 421,500. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.37. The firm has a market cap of $6,435.55, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.63 and a beta of 1.03. Hubbell has a fifty-two week low of $109.32 and a fifty-two week high of $149.03.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Tuesday, February 27th. Hubbell’s dividend payout ratio is 51.94%.
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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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