$897.16 Million in Sales Expected for Hubbell Inc (HUBB) This Quarter
Analysts predict that Hubbell Inc (NYSE:HUBB) will announce sales of $897.16 million for the current quarter, Zacks reports. Three analysts have provided estimates for Hubbell’s earnings, with the highest sales estimate coming in at $905.00 million and the lowest estimate coming in at $892.49 million. Hubbell reported sales of $854.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The business is scheduled to report its next quarterly earnings results on Tuesday, January 30th.
On average, analysts expect that Hubbell will report full-year sales of $897.16 million for the current financial year, with estimates ranging from $3.64 billion to $3.66 billion. For the next year, analysts expect that the company will post sales of $3.77 billion per share, with estimates ranging from $3.75 billion to $3.79 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Hubbell.
Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.15. The company had revenue of $950.50 million during the quarter, compared to analyst estimates of $960.28 million. Hubbell had a return on equity of 19.69% and a net margin of 7.96%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.63 earnings per share.
Several equities research analysts have issued reports on the company. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Wednesday, September 27th. BidaskClub raised Hubbell from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $132.00 price target (up previously from $130.00) on shares of Hubbell in a research note on Monday, October 2nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Hubbell has a consensus rating of “Hold” and an average target price of $124.00.
Shares of Hubbell (NYSE HUBB) opened at $120.30 on Friday. The stock has a market capitalization of $6,642.22, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.23 and a beta of 1.10. Hubbell has a 52 week low of $109.32 and a 52 week high of $127.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 2.28.
Hubbell announced that its Board of Directors has initiated a stock buyback program on Friday, October 20th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.08 annualized dividend and a yield of 2.56%. This is a positive change from Hubbell’s previous quarterly dividend of $0.70. Hubbell’s payout ratio is 53.95%.
In other Hubbell news, insider Gerben Bakker sold 590 shares of Hubbell stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $125.34, for a total transaction of $73,950.60. Following the completion of the sale, the insider now owns 13,249 shares of the company’s stock, valued at $1,660,629.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.28% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in shares of Hubbell by 2,397.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 935 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in shares of Hubbell by 103.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 500 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Hubbell in the 2nd quarter valued at about $182,000. Advisors Asset Management Inc. lifted its stake in shares of Hubbell by 1,122.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 1,481 shares during the last quarter. Finally, Global X Management Co. LLC lifted its stake in shares of Hubbell by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 1,210 shares during the last quarter. 84.05% of the stock is owned by institutional investors.
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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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