$1.86 EPS expected for Hubbell Incorporated (NYSE: HUBB) this quarter
Wall Street brokers expect Hubbell Incorporated (NYSE: HUBB – Get Rating) to report earnings per share (EPS) of $1.86 for the current fiscal quarter, reports Zacks Investment Research. Three analysts have released estimates of Hubbell’s earnings. The lowest EPS estimate is $1.81 and the highest is $1.89. Hubbell posted earnings of $1.72 per share in the same quarter last year, which would indicate a positive growth rate of 8.1% year over year. The company is expected to announce its next quarterly results before the market opens on Monday, January 1.
According to Zacks, analysts expect Hubbell to report annual earnings of $9.08 per share for the current year, with EPS estimates ranging from $9.00 to $9.15. For next year, analysts expect the company to post earnings of $10.06 per share, with EPS estimates ranging from $9.92 to $10.25. Zacks earnings per share averages are an average average based on a survey of sell-side research analysts who cover Hubbell.
Hubbell (NYSE: HUBB – Get Rating) last released its results on Thursday, February 3. The industrial products company reported earnings per share (EPS) of $2.07 for the quarter, missing Zacks’ consensus estimate of $2.09 per ($0.02). The company posted revenue of $1.10 billion in the quarter, versus $1.22 billion expected by analysts. Hubbell had a net margin of 8.72% and a return on equity of 21.21%. Hubbell’s revenue for the quarter increased 20.0% year over year. In the same quarter of the previous year, the company achieved EPS of $1.76.
Several research companies have weighed in on HUBB. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Tuesday. Mizuho lowered its price target on Hubbell from $240.00 to $220.00 and set a “buy” rating on the stock in a Monday, Feb. 7 research report. Zacks Investment Research upgraded Hubbell from a “sell” rating to a “hold” rating in a Tuesday, February 15 research report. Finally, Morgan Stanley raised its price target on Hubbell from $198.00 to $200.00 and gave the stock an “equal weight” rating in a Thursday, April 7 research report. Three research analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $205.00.
Separately, Chief Financial Officer William R. Sperry sold 10,000 shares of the company in a trade on Thursday, February 10. The shares were sold at an average price of $188.70, for a total value of $1,887,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CEO Gerben Bakker sold 1,148 shares of the company in a trade on Friday, February 11. The stock was sold at an average price of $186.37, for a total transaction of $213,952.76. The disclosure of this sale can be found here. 0.82% of the shares are held by insiders.
Hedge funds and other institutional investors have recently changed their positions in the stock. Steward Partners Investment Advisory LLC increased its position in Hubbell by 4.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the industrial products company worth $259,000 after buying 54 more shares last quarter. Benjamin Edwards Inc. increased its position in Hubbell by 12.7% in the third quarter. Benjamin Edwards Inc. now owns 543 shares of the industrial products company worth $98,000 after buying 61 more shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Hubbell by 0.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,201 shares of the industrial products company worth $1,500,000 after buying 61 more shares last quarter. Pacer Advisors Inc. increased its position in Hubbell by 1.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,659 shares of the industrial products company worth $1,179,000 after buying 69 more shares last quarter. Finally, Cetera Investment Advisers strengthened its position in Hubbell by 3.6% in the third quarter. Cetera Investment Advisers now owns 2,141 shares of the industrial products company worth $387,000 after buying 74 more shares last quarter. 84.71% of the shares are held by hedge funds and other institutional investors.
Shares of NYSE:HUBB traded at $2.42 in Friday’s midday session, hitting $191.74. 997,532 shares were traded, against an average volume of 345,716. The company has a leverage ratio of 0.64, a quick ratio of 1.14 and a current ratio of 1.76. Hubbell has a 52-week low of $170.76 and a 52-week high of $212.54. The company’s fifty-day simple moving average is $183.58 and its two-hundred-day simple moving average is $193.34. The company has a market capitalization of $10.43 billion, a PE ratio of 26.34, a P/E/G ratio of 2.04 and a beta of 1.26.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15. Shareholders of record on Monday, February 28 received a dividend of $1.05 per share. This represents a dividend of $4.20 on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, February 25. Hubbell’s dividend payout ratio is currently 57.69%.
Hubbell Company Profile (Get a rating)
Hubbell Incorporated, together with its subsidiaries, designs, manufactures and sells electrical and electronic products in the United States and abroad. It operates through two segments, Power Solutions and Utility Solutions. The Electrical Solutions segment offers standard and special application wiring devices, rough electrical products, connecting and grounding products, lighting fixtures and other electrical equipment for use in industrial, commercial, and institutional 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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