Brokerages Expect Hubbell Inc (HUBB) Will Post Quarterly Sales of $897.16 Million

Analysts forecast that Hubbell Inc (NYSE:HUBB) will announce $897.16 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Hubbell’s earnings, with estimates ranging from $892.49 million to $905.00 million. Hubbell reported sales of $854.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The company is scheduled to report its next earnings report on Tuesday, January 30th.

On average, analysts expect that Hubbell will report full year sales of $897.16 million for the current financial year, with estimates ranging from $3.64 billion to $3.66 billion. For the next year, analysts expect that the business will post sales of $3.78 billion per share, with estimates ranging from $3.75 billion to $3.79 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Hubbell.

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

HUBB has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $149.00 target price on the stock in a research report on Thursday, January 4th. Morgan Stanley restated 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. BidaskClub upgraded Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. JPMorgan Chase & Co. restated a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Finally, Wells Fargo & Co restated a “buy” rating and set a $143.00 price target (up from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $134.00.

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 stock was sold at an average price of $125.34, for a total value of $73,950.60. Following the transaction, the insider now directly owns 13,249 shares of the company’s stock, valued at $1,660,629.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.28% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP raised its position in shares of Hubbell by 33.3% during the third quarter. Quantbot Technologies LP now owns 6,699 shares of the industrial products company’s stock worth $777,000 after purchasing an additional 1,675 shares during the period. Riverhead Capital Management LLC raised its position in shares of Hubbell by 57.8% during the second quarter. Riverhead Capital Management LLC now owns 2,998 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 1,098 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Hubbell during the second quarter worth approximately $724,000. Swiss National Bank raised its position in shares of Hubbell by 1.3% during the second quarter. Swiss National Bank now owns 87,800 shares of the industrial products company’s stock worth $9,936,000 after purchasing an additional 1,100 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Hubbell by 6.0% during the third quarter. Ameriprise Financial Inc. now owns 211,211 shares of the industrial products company’s stock worth $24,506,000 after purchasing an additional 12,019 shares during the period. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell (NYSE:HUBB) opened at $136.05 on Tuesday. The company has a market capitalization of $7,435.37, a PE ratio of 26.21, a P/E/G ratio of 2.19 and a beta of 1.09. Hubbell has a 52 week low of $109.32 and a 52 week high of $138.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.43.

Hubbell announced that its Board of Directors has approved a stock buyback plan on Friday, October 20th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a $0.77 dividend. The ex-dividend date was Wednesday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $0.70. This represents a $3.08 annualized dividend and a yield of 2.26%. Hubbell’s dividend 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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