Zacks: Analysts Expect Hubbell Inc (HUBB) Will Post Earnings of $1.42 Per Share

Brokerages forecast that Hubbell Inc (NYSE:HUBB) will post earnings of $1.42 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Hubbell’s earnings, with estimates ranging from $1.40 to $1.43. Hubbell reported earnings of $1.35 per share during the same quarter last year, which suggests a positive year over year growth rate of 5.2%. The business is expected to report its next quarterly earnings report on Tuesday, January 30th.

According to Zacks, analysts expect that Hubbell will report full year earnings of $5.44 per share for the current fiscal year, with EPS estimates ranging from $5.43 to $5.45. For the next fiscal 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’ EPS calculations are an average based on a survey of sell-side research analysts that follow Hubbell.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.15. The business had revenue of $950.50 million during the quarter, compared to the consensus estimate of $960.28 million. Hubbell had a net margin of 7.96% and a return on equity of 19.69%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share.

A number of equities research analysts recently issued reports on HUBB shares. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a report on Wednesday, September 27th. BidaskClub upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Finally, Morgan Stanley restated an “overweight” rating and issued a $132.00 target price (up from $130.00) on shares of Hubbell in a report on Monday, October 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $124.00.

In other Hubbell news, insider Gerben Bakker sold 590 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $125.34, for a total transaction of $73,950.60. Following the completion of the sale, the insider now directly owns 13,249 shares in the company, valued at $1,660,629.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.28% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. Acrospire Investment Management LLC grew its stake in Hubbell by 103.1% during the second quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after buying an additional 500 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Hubbell during the second quarter worth approximately $182,000. Advisors Asset Management Inc. grew its stake in Hubbell by 1,122.0% during the third quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock worth $187,000 after buying an additional 1,481 shares during the period. Global X Management Co. LLC grew its stake in Hubbell by 220.0% during the second quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock worth $199,000 after buying an additional 1,210 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Hubbell during the third quarter worth approximately $221,000. Institutional investors own 85.21% of the company’s stock.

Shares of Hubbell (NYSE HUBB) traded down $1.45 during midday trading on Monday, hitting $124.34. 373,400 shares of the stock were exchanged, compared to its average volume of 288,034. Hubbell has a 1-year low of $109.32 and a 1-year high of $127.45. The stock has a market capitalization of $6,801.40, a P/E ratio of 21.66, a PEG ratio of 2.29 and a beta of 1.09. The company has a current ratio of 2.28, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59.

Hubbell announced that its board has initiated a share repurchase plan on Friday, October 20th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.48%. This is an increase from Hubbell’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, November 29th. Hubbell’s payout ratio is presently 59.34%.

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About Hubbell

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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