Wall Street brokerages predict that Hubbell Inc (NYSE:HUBB) will announce sales of $955.05 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Hubbell’s earnings. The lowest sales estimate is $946.35 million and the highest is $967.00 million. Hubbell reported sales of $907.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Hubbell will report full-year sales of $955.05 million for the current fiscal year, with estimates ranging from $3.64 billion to $3.68 billion. For the next financial year, analysts expect that the company will post sales of $3.78 billion per share, with estimates ranging from $3.76 billion to $3.80 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Hubbell.
Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The company had revenue of $948.30 million for the quarter, compared to the consensus estimate of $937.35 million. During the same quarter in the previous year, the company earned $1.53 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year.
Several research firms have recently issued reports on HUBB. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Thursday. Wolfe Research began coverage on Hubbell in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, JMP Securities began coverage on Hubbell in a report on Monday, June 19th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Hubbell presently has a consensus rating of “Hold” and an average target price of $126.67.
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Shares of Hubbell (HUBB) traded up 0.08% during midday trading on Thursday, hitting $119.50. 206,871 shares of the stock traded hands. Hubbell has a 1-year low of $101.15 and a 1-year high of $125.93. The stock has a 50 day moving average of $115.77 and a 200 day moving average of $117.68. The company has a market capitalization of $6.54 billion, a P/E ratio of 22.67 and a beta of 1.01.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, August 29th. Hubbell’s dividend payout ratio (DPR) is currently 53.03%.
Several hedge funds have recently added to or reduced their stakes in HUBB. Meeder Asset Management Inc. raised its stake in Hubbell by 2,397.4% in the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock valued at $110,000 after buying an additional 935 shares during the period. TLP Group LLC bought a new stake in Hubbell during the first quarter valued at about $126,000. Baystate Wealth Management LLC raised its stake in Hubbell by 60.3% in the first quarter. Baystate Wealth Management LLC now owns 1,087 shares of the industrial products company’s stock valued at $128,000 after buying an additional 409 shares during the period. Flinton Capital Management LLC raised its stake in Hubbell by 7.1% in the first quarter. Flinton Capital Management LLC now owns 1,696 shares of the industrial products company’s stock valued at $204,000 after buying an additional 112 shares during the period. Finally, Tocqueville Asset Management L.P. bought a new stake in Hubbell during the first quarter valued at about $204,000. 85.32% of the stock is currently owned by institutional investors.
Hubbell Company Profile
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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