Hubbell Incorporated (HUBB) Expected to Announce Quarterly Sales of $970.82 Million
Wall Street brokerages expect that Hubbell Incorporated (NYSE:HUBB) will report $970.82 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hubbell’s earnings. The lowest sales estimate is $966.75 million and the highest is $978.70 million. Hubbell posted sales of $852.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The business is expected to announce its next earnings report on Tuesday, April 24th.
On average, analysts expect that Hubbell will report full year sales of $970.82 million for the current year, with estimates ranging from $4.24 billion to $4.35 billion. For the next financial year, analysts expect that the business will report sales of $4.51 billion per share, with estimates ranging from $4.44 billion to $4.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Hubbell.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.12. The firm had revenue of $917.70 million during the quarter, compared to analyst estimates of $901.23 million. Hubbell had a return on equity of 20.16% and a net margin of 6.63%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 earnings per share.
In other Hubbell news, VP Stephen M. Mais sold 4,692 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $135.59, for a total value of $636,188.28. Following the completion of the sale, the vice president now owns 16,669 shares of the company’s stock, valued at $2,260,149.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman David G. Nord sold 12,076 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total transaction of $1,615,285.76. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HUBB. Goldman Sachs Group Inc. lifted its stake in Hubbell by 21.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,531,331 shares of the industrial products company’s stock worth $207,251,000 after purchasing an additional 272,407 shares during the last quarter. Anchor Bolt Capital LP bought a new stake in Hubbell in the fourth quarter worth about $25,272,000. Prudential Financial Inc. lifted its stake in Hubbell by 456.3% in the third quarter. Prudential Financial Inc. now owns 179,749 shares of the industrial products company’s stock worth $20,854,000 after purchasing an additional 147,440 shares during the last quarter. Cadinha & Co. LLC lifted its stake in Hubbell by 1,598.0% in the fourth quarter. Cadinha & Co. LLC now owns 136,862 shares of the industrial products company’s stock worth $18,523,000 after purchasing an additional 128,802 shares during the last quarter. Finally, Bain Capital Public Equity Management LLC bought a new stake in Hubbell in the fourth quarter worth about $13,464,000. 85.47% of the stock is owned by institutional investors and hedge funds.
Shares of HUBB stock traded down $0.06 during trading on Friday, hitting $125.36. The stock had a trading volume of 238,578 shares, compared to its average volume of 421,889. The company has a current ratio of 2.27, a quick ratio of 1.37 and a debt-to-equity ratio of 0.60. Hubbell has a 52-week low of $109.32 and a 52-week high of $149.03. The stock has a market capitalization of $6,878.52, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, February 27th. Hubbell’s payout ratio is 70.00%.
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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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