Brokerages Expect Hubbell Incorporated (HUBB) Will Post Earnings of $1.73 Per Share

Brokerages expect that Hubbell Incorporated (NYSE:HUBB) will post $1.73 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Hubbell’s earnings, with the lowest EPS estimate coming in at $1.68 and the highest estimate coming in at $1.85. Hubbell reported earnings of $1.54 per share during the same quarter last year, which would indicate a positive year over year growth rate of 12.3%. The firm is scheduled to report its next earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that Hubbell will report full-year earnings of $7.27 per share for the current financial year, with EPS estimates ranging from $7.25 to $7.30. 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 EPS averages are a mean average based on a survey of analysts that cover Hubbell.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.11. Hubbell had a return on equity of 23.08% and a net margin of 6.88%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm posted $1.65 EPS. The company’s revenue was up 24.1% compared to the same quarter last year.

A number of equities analysts recently weighed in on HUBB shares. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a report on Thursday, July 26th. Wolfe Research raised Hubbell to a “buy” rating and set a $131.00 price objective on the stock in a report on Wednesday, October 24th. They noted that the move was a valuation call. Morgan Stanley set a $131.00 price target on Hubbell and gave the stock a “buy” rating in a research report on Wednesday, October 24th. ValuEngine upgraded Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Wells Fargo & Co restated an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of Hubbell in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $137.83.

Shares of NYSE HUBB opened at $108.53 on Friday. The stock has a market cap of $5.45 billion, a P/E ratio of 18.30, a PEG ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.88. Hubbell has a 1-year low of $97.02 and a 1-year high of $149.03.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.10%. This is a positive change from Hubbell’s previous quarterly dividend of $0.77. The ex-dividend date is Thursday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 51.94%.

In related news, Director John F. Malloy purchased 994 shares of Hubbell stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average cost of $100.82 per share, for a total transaction of $100,215.08. Following the transaction, the director now directly owns 13,020 shares in the company, valued at $1,312,676.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Neal J. Keating acquired 1,000 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was acquired at an average price of $101.55 per share, for a total transaction of $101,550.00. Following the completion of 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. 0.69% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Hubbell by 0.7% in the 1st quarter. Legal & General Group Plc now owns 74,028 shares of the industrial products company’s stock worth $9,016,000 after buying an additional 479 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Hubbell by 8.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,317 shares of the industrial products company’s stock worth $774,000 after buying an additional 560 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Hubbell by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,415 shares of the industrial products company’s stock worth $2,264,000 after buying an additional 617 shares during the last quarter. Rhumbline Advisers grew its position in shares of Hubbell by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 120,227 shares of the industrial products company’s stock worth $12,713,000 after buying an additional 689 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Hubbell by 156.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,164 shares of the industrial products company’s stock worth $118,000 after buying an additional 710 shares during the last quarter. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Hubbell Company Profile

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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