Hubbell Inc (HUBB) Expected to Post Quarterly Sales of $957.62 Million
Wall Street analysts forecast that Hubbell Inc (NYSE:HUBB) will announce sales of $957.62 million for the current quarter, Zacks reports. Three analysts have issued estimates for Hubbell’s earnings, with the highest sales estimate coming in at $967.00 million and the lowest estimate coming in at $946.35 million. Hubbell reported sales of $907.40 million in the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The company is expected to issue its next earnings results on Tuesday, October 24th.
On average, analysts expect that Hubbell will report full-year sales of $957.62 million for the current fiscal year, with estimates ranging from $3.64 billion to $3.68 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.79 billion per share, with estimates ranging from $3.76 billion to $3.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Hubbell.
Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.11. The business had revenue of $948.30 million for the quarter, compared to the consensus estimate of $937.35 million. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS.
HUBB has been the topic of several recent analyst reports. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. JMP Securities initiated coverage on Hubbell in a report on Monday, June 19th. They issued a “market perform” rating on the stock. Wolfe Research initiated coverage on Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, BidaskClub raised Hubbell from a “strong sell” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Hubbell has an average rating of “Hold” and a consensus target price of $126.67.
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Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Hubbell by 10,789.9% in the first quarter. BlackRock Inc. now owns 4,224,304 shares of the industrial products company’s stock worth $507,129,000 after buying an additional 4,185,513 shares during the period. Schroder Investment Management Group boosted its position in Hubbell by 2,991.4% in the second quarter. Schroder Investment Management Group now owns 537,900 shares of the industrial products company’s stock worth $60,400,000 after buying an additional 520,500 shares during the period. Koch Industries Inc. purchased a new position in Hubbell during the second quarter worth about $364,000. Principal Financial Group Inc. boosted its position in Hubbell by 65.1% in the second quarter. Principal Financial Group Inc. now owns 588,002 shares of the industrial products company’s stock worth $66,545,000 after buying an additional 231,936 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC boosted its position in Hubbell by 68.9% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 544,472 shares of the industrial products company’s stock worth $61,618,000 after buying an additional 222,178 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Shares of Hubbell (NYSE:HUBB) opened at 112.79 on Friday. Hubbell has a one year low of $101.15 and a one year high of $125.93. The company has a 50 day moving average price of $115.26 and a 200 day moving average price of $116.63. The company has a market cap of $6.17 billion, a P/E ratio of 21.40 and a beta of 1.03.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Tuesday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 53.03%.
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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