Zacks: Brokerages Anticipate Hub Group, Inc. (HUBG) Will Announce Quarterly Sales of $1.03 Billion
Equities research analysts expect Hub Group, Inc. (NASDAQ:HUBG) to post $1.03 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Hub Group’s earnings, with the lowest sales estimate coming in at $990.02 million and the highest estimate coming in at $1.06 billion. Hub Group reported sales of $932.81 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.4%. The business is expected to announce its next earnings report on Wednesday, October 25th.
On average, analysts expect that Hub Group will report full-year sales of $1.03 billion for the current fiscal year, with estimates ranging from $3.84 billion to $3.98 billion. For the next year, analysts anticipate that the business will post sales of $4.28 billion per share, with estimates ranging from $4.07 billion to $4.37 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Hub Group.
Hub Group (NASDAQ:HUBG) last released its earnings results on Wednesday, July 26th. The transportation company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.08). Hub Group had a net margin of 1.50% and a return on equity of 9.49%. The business had revenue of $924.50 million for the quarter, compared to the consensus estimate of $930.59 million. During the same period in the prior year, the business posted $0.61 EPS. Hub Group’s revenue for the quarter was up 8.1% on a year-over-year basis.
HUBG has been the topic of a number of research analyst reports. Cowen and Company reaffirmed a “hold” rating and set a $40.00 target price on shares of Hub Group in a research note on Monday, August 28th. BidaskClub raised shares of Hub Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. BMO Capital Markets reaffirmed a “hold” rating and set a $42.00 target price on shares of Hub Group in a research note on Wednesday, September 20th. KeyCorp reaffirmed a “neutral” rating on shares of Hub Group in a research note on Friday, August 25th. Finally, Zacks Investment Research raised shares of Hub Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Hub Group has a consensus rating of “Hold” and a consensus price target of $43.63.
Shares of Hub Group (NASDAQ:HUBG) opened at 40.70 on Monday. The firm has a 50-day moving average of $39.81 and a 200-day moving average of $38.78. Hub Group has a one year low of $33.17 and a one year high of $52.50. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 24.24 and a beta of 1.41.
In other Hub Group news, Director Charles R. Reaves sold 6,000 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $37.60, for a total transaction of $225,600.00. Following the sale, the director now directly owns 67,947 shares in the company, valued at $2,554,807.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.36% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in HUBG. BlackRock Inc. grew its position in shares of Hub Group by 19,453.7% during the first quarter. BlackRock Inc. now owns 5,038,204 shares of the transportation company’s stock worth $233,773,000 after buying an additional 5,012,438 shares in the last quarter. Nuance Investments LLC grew its position in shares of Hub Group by 229.7% during the second quarter. Nuance Investments LLC now owns 1,517,579 shares of the transportation company’s stock worth $58,199,000 after buying an additional 1,057,338 shares in the last quarter. FMR LLC grew its position in shares of Hub Group by 10.7% during the first quarter. FMR LLC now owns 3,270,552 shares of the transportation company’s stock worth $151,754,000 after buying an additional 317,119 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Hub Group by 42.7% during the second quarter. Bank of New York Mellon Corp now owns 647,808 shares of the transportation company’s stock worth $24,843,000 after buying an additional 193,994 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Hub Group by 345.4% during the second quarter. Bank of Montreal Can now owns 235,492 shares of the transportation company’s stock worth $9,031,000 after buying an additional 182,622 shares in the last quarter. 91.06% of the stock is owned by institutional investors and hedge funds.
Hub Group Company Profile
Hub Group, Inc is an asset-light freight transportation management company. The Company offers intermodal, truck brokerage and logistics services. It operates through two business segments: Mode and Hub. The Mode segment markets and operates its freight transportation services, consisting of intermodal, truck brokerage and logistics, primarily through agents entering into contractual arrangements with Mode Transportation, LLC (Mode LLC).
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