Analysts Expect Hubbell Inc (HUBB) Will Post Earnings of $1.43 Per Share

Equities research analysts predict that Hubbell Inc (NYSE:HUBB) will report earnings per share (EPS) of $1.43 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Hubbell’s earnings, with the lowest EPS estimate coming in at $1.42 and the highest estimate coming in at $1.44. Hubbell posted earnings per share of $1.35 during the same quarter last year, which suggests a positive year-over-year growth rate of 5.9%. The business is scheduled to announce its next 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 year, analysts expect that the business will report earnings of $6.20 per share, with EPS estimates ranging from $6.15 to $6.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover 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. Hubbell had a return on equity of 19.69% and a net margin of 7.96%. The company had revenue of $950.50 million during the quarter, compared to analyst estimates of $960.28 million. During the same period in the previous year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year.

A number of research analysts have recently commented on HUBB shares. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a report on Wednesday, September 27th. BidaskClub upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Wells Fargo & Company reiterated a “buy” rating and set a $143.00 price target (up from $136.00) on shares of Hubbell in a report on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $132.00 price target (up from $130.00) on shares of Hubbell in a report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $128.75.

In other news, insider Gerben Bakker sold 590 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $125.34, for a total transaction of $73,950.60. Following 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 1.28% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. Schroder Investment Management Group increased its position in shares of Hubbell by 2,991.4% during the second quarter. Schroder Investment Management Group now owns 537,900 shares of the industrial products company’s stock valued at $60,400,000 after purchasing an additional 520,500 shares during the period. Koch Industries Inc. bought a new stake in Hubbell in the second quarter valued at $364,000. Principal Financial Group Inc. grew its position in Hubbell by 65.1% in the second quarter. Principal Financial Group Inc. now owns 588,002 shares of the industrial products company’s stock valued at $66,545,000 after acquiring an additional 231,936 shares during the period. Cramer Rosenthal Mcglynn LLC grew its position in Hubbell by 68.9% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 544,472 shares of the industrial products company’s stock valued at $61,618,000 after acquiring an additional 222,178 shares during the period. Finally, Crawford Investment Counsel Inc. grew its position in Hubbell by 735.8% in the second quarter. Crawford Investment Counsel Inc. now owns 247,564 shares of the industrial products company’s stock valued at $28,017,000 after acquiring an additional 217,945 shares during the period. Institutional investors and hedge funds own 85.10% of the company’s stock.

Hubbell (NYSE HUBB) opened at $135.22 on Friday. Hubbell has a 1-year low of $109.32 and a 1-year high of $135.50. The company has a market capitalization of $7,366.45, a P/E ratio of 23.46, a PEG ratio of 2.47 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.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $0.70. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.28%. Hubbell’s payout ratio is currently 59.34%.

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

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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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