Zacks: Brokerages Anticipate Hubbell Incorporated (HUBB) Will Post Earnings of $1.39 Per Share

Equities analysts expect Hubbell Incorporated (NYSE:HUBB) to announce earnings per share (EPS) of $1.39 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Hubbell’s earnings, with the lowest EPS estimate coming in at $1.33 and the highest estimate coming in at $1.46. Hubbell reported earnings of $1.23 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 13%. The firm is scheduled to issue its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Hubbell will report full-year earnings of $7.19 per share for the current financial year, with EPS estimates ranging from $7.15 to $7.27. For the next year, analysts expect that the business will post earnings of $8.02 per share, with EPS estimates ranging from $7.95 to $8.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Hubbell.

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Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.12. Hubbell had a net margin of 6.63% and a return on equity of 20.16%. The business had revenue of $917.70 million during the quarter, compared to the consensus estimate of $901.23 million. During the same period in the prior year, the firm posted $1.35 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year.

A number of research analysts have weighed in on HUBB shares. Morgan Stanley boosted their target price on shares of Hubbell from $134.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. JPMorgan Chase upgraded shares of Hubbell from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 18th. Wells Fargo reiterated a “buy” rating and issued a $143.00 target price (up from $136.00) on shares of Hubbell in a research note on Wednesday, December 20th. Finally, Oppenheimer reiterated a “buy” rating and issued a $160.00 target price on shares of Hubbell in a research note on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $152.00.

HUBB stock traded down $2.61 during trading on Monday, reaching $117.39. The stock had a trading volume of 374,029 shares, compared to its average volume of 474,191. Hubbell has a one year low of $109.32 and a one year high of $149.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.37 and a current ratio of 2.27. The company has a market capitalization of $6,578.64, a price-to-earnings ratio of 19.80, a PEG ratio of 1.67 and a beta of 1.03.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Tuesday, February 27th. Hubbell’s payout ratio is 51.94%.

In related news, Chairman David G. Nord sold 12,076 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $133.76, for a total transaction of $1,615,285.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen M. Mais sold 4,692 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $135.59, for a total transaction of $636,188.28. Following the sale, the vice president now owns 16,669 shares in the company, valued at $2,260,149.71. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Koch Industries Inc. lifted its stake in shares of Hubbell by 114.2% during the 4th quarter. Koch Industries Inc. now owns 4,430 shares of the industrial products company’s stock valued at $600,000 after buying an additional 2,362 shares in the last quarter. FTB Advisors Inc. purchased a new stake in shares of Hubbell during the 4th quarter valued at approximately $292,000. Sei Investments Co. lifted its stake in shares of Hubbell by 87.4% during the 4th quarter. Sei Investments Co. now owns 55,255 shares of the industrial products company’s stock valued at $7,479,000 after buying an additional 25,776 shares in the last quarter. Bain Capital Public Equity Management LLC bought a new stake in Hubbell during the 4th quarter worth approximately $13,464,000. Finally, Citadel Advisors LLC increased its holdings in Hubbell by 37.8% during the 4th quarter. Citadel Advisors LLC now owns 127,308 shares of the industrial products company’s stock worth $17,230,000 after acquiring an additional 34,923 shares during the period. Institutional investors own 85.47% of the company’s stock.

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About Hubbell

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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