Zacks: Brokerages Expect Hubbell Incorporated (NYSE:HUBB) Will Post Quarterly Sales of $1.21 Billion
Wall Street brokerages forecast that Hubbell Incorporated (NYSE:HUBB) will announce $1.21 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Hubbell’s earnings. The highest sales estimate is $1.23 billion and the lowest is $1.20 billion. Hubbell reported sales of $1.17 billion in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The firm is scheduled to report its next earnings report before the market opens on Tuesday, July 30th.
On average, analysts expect that Hubbell will report full year sales of $4.71 billion for the current financial year, with estimates ranging from $4.67 billion to $4.75 billion. For the next fiscal year, analysts anticipate that the business will report sales of $4.85 billion, with estimates ranging from $4.76 billion to $4.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Hubbell.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.02. Hubbell had a return on equity of 23.09% and a net margin of 8.17%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business posted $1.39 EPS. Hubbell’s revenue for the quarter was up 9.7% on a year-over-year basis.
Hubbell stock traded up $0.66 during midday trading on Friday, reaching $125.48. The stock had a trading volume of 178,399 shares, compared to its average volume of 239,486. The company’s fifty day moving average is $125.27. Hubbell has a 1-year low of $91.88 and a 1-year high of $137.67. The stock has a market capitalization of $6.84 billion, a PE ratio of 17.21, a P/E/G ratio of 1.55 and a beta of 1.49. The company has a quick ratio of 1.16, a current ratio of 1.95 and a debt-to-equity ratio of 0.95.
In other Hubbell news, insider Kevin Arthur Poyck sold 247 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $122.00, for a total transaction of $30,134.00. Following the transaction, the insider now owns 15,572 shares of the company’s stock, valued at approximately $1,899,784. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen M. Mais sold 2,243 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $129.69, for a total value of $290,894.67. Following the transaction, the vice president now directly owns 17,983 shares in the company, valued at $2,332,215.27. The disclosure for this sale can be found here. In the last three months, insiders sold 19,177 shares of company stock worth $2,477,468. 2.20% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of HUBB. CENTRAL TRUST Co increased its holdings in shares of Hubbell by 125.0% during the 2nd quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 200 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Hubbell by 1,030.8% during the 1st quarter. Quadrant Capital Group LLC now owns 588 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 536 shares during the last quarter. Cutler Group LP increased its holdings in shares of Hubbell by 300.0% during the 1st quarter. Cutler Group LP now owns 800 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 600 shares during the last quarter. Osborn Williams & Donohoe LLC acquired a new position in shares of Hubbell during the 1st quarter worth approximately $100,000. Finally, Advisor Group Inc. increased its holdings in shares of Hubbell by 49.7% during the 4th quarter. Advisor Group Inc. now owns 1,090 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 362 shares during the last quarter. 85.59% of the stock is currently owned by institutional investors and hedge funds.
Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, and other electrical equipment for use in industrial, commercial, and institutional facilities 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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