Brokerages predict that Hubbell Inc (NYSE:HUBB) will announce $961.95 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Hubbell’s earnings, with the lowest sales estimate coming in at $946.35 million and the highest estimate coming in at $980.00 million. Hubbell posted sales of $907.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that Hubbell will report full-year sales of $961.95 million for the current fiscal year, with estimates ranging from $3.65 billion to $3.70 billion. For the next financial year, analysts forecast that the company will post sales of $3.79 billion per share, with estimates ranging from $3.77 billion to $3.81 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Hubbell.
Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.11. The firm had revenue of $948.30 million for the quarter, compared to analyst estimates of $937.35 million. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 earnings per share.
Several brokerages recently weighed in on HUBB. Morgan Stanley restated an “overweight” rating and issued a $132.00 price objective (up from $130.00) on shares of Hubbell in a report on Monday, October 2nd. BidaskClub upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a report on Wednesday, September 27th. Wolfe Research began coverage on shares of Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, JMP Securities began coverage on shares of Hubbell in a report on Monday, June 19th. They issued a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $124.00.
Hubbell (NYSE:HUBB) opened at 117.15 on Monday. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 22.23 and a beta of 1.04. The firm has a 50-day moving average of $113.36 and a 200 day moving average of $115.50. Hubbell has a 52-week low of $101.15 and a 52-week high of $125.93.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Tuesday, August 29th. Hubbell’s payout ratio is presently 53.03%.
A number of large investors have recently modified their holdings of the business. World Asset Management Inc increased its stake in Hubbell by 0.3% in the second quarter. World Asset Management Inc now owns 3,886 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 12 shares in the last quarter. Somerset Trust Co increased its stake in Hubbell by 0.4% in the second quarter. Somerset Trust Co now owns 5,329 shares of the industrial products company’s stock valued at $603,000 after purchasing an additional 22 shares in the last quarter. FineMark National Bank & Trust increased its stake in Hubbell by 0.5% in the second quarter. FineMark National Bank & Trust now owns 5,286 shares of the industrial products company’s stock valued at $598,000 after purchasing an additional 27 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Hubbell by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,552 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 29 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in Hubbell by 1.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,979 shares of the industrial products company’s stock valued at $947,000 after purchasing an additional 93 shares in the last quarter. 85.15% of the stock is owned by hedge funds and other institutional investors.
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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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