Wall Street analysts expect that Hubbell Inc (NYSE:HUBB) will report earnings of $1.42 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Hubbell’s earnings, with the highest EPS estimate coming in at $1.43 and the lowest estimate coming in at $1.40. Hubbell posted earnings of $1.35 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.2%. The firm is expected to announce its next earnings report on Tuesday, January 30th.
On average, analysts expect that Hubbell will report full-year earnings of $5.44 per share for the current year, with EPS estimates ranging from $5.43 to $5.45. For the next financial year, analysts forecast that the firm will post earnings of $6.18 per share, with EPS estimates ranging from $6.15 to $6.20. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Hubbell.
Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.15. Hubbell had a net margin of 7.96% and a return on equity of 19.69%. The business had revenue of $950.50 million for the quarter, compared to analyst estimates of $960.28 million. During the same quarter last year, the business earned $1.63 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis.
In other Hubbell news, insider Gerben Bakker sold 590 shares of Hubbell stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $125.34, for a total value of $73,950.60. Following the transaction, the insider now owns 13,249 shares in the company, valued at $1,660,629.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.28% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in Hubbell by 103.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 500 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Hubbell in the 2nd quarter worth approximately $182,000. Advisors Asset Management Inc. boosted its stake in 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 worth $187,000 after purchasing an additional 1,481 shares during the period. Global X Management Co. LLC boosted its stake in 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 worth $199,000 after purchasing an additional 1,210 shares during the period. Finally, Magnetar Financial LLC acquired a new position in Hubbell in the 3rd quarter worth approximately $221,000. 85.21% of the stock is owned by hedge funds and other institutional investors.
Hubbell (HUBB) traded up $3.19 during midday trading on Monday, hitting $130.79. 499,760 shares of the company were exchanged, compared to its average volume of 289,270. Hubbell has a fifty-two week low of $109.32 and a fifty-two week high of $130.94. The company has a quick ratio of 1.43, a current ratio of 2.28 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $6,980.00 and a price-to-earnings ratio of 22.08.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $0.77 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, November 29th. This represents a $3.08 annualized dividend and a yield of 2.35%. Hubbell’s payout ratio is 59.46%.
Hubbell declared that its board has initiated a stock buyback program on Friday, October 20th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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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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