Hubbell (HUBB) to Release Earnings on Tuesday

Hubbell (NYSE:HUBB) will post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Hubbell to post earnings of $3.54 per share for the quarter. Hubbell has set its FY24 guidance at $16.00-16.50 EPS and its FY 2024 guidance at 16.000-16.500 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned $2.60 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts expect Hubbell to post $16 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Hubbell Price Performance

Shares of HUBB stock opened at $390.77 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The stock has a 50 day moving average price of $392.44 and a 200 day moving average price of $340.49. Hubbell has a 52-week low of $230.50 and a 52-week high of $429.61. The firm has a market capitalization of $20.96 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.36 and a beta of 0.94.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the sale, the vice president now directly owns 9,355 shares in the company, valued at $3,297,731.05. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock valued at $12,065,100 in the last 90 days. 0.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Barclays raised their price objective on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Mizuho increased their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $383.57.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, 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.