Equities research analysts predict that Hubbell Incorporated (NYSE:HUBB) will announce $1.17 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Hubbell's earnings. Hubbell reported sales of $949.20 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.3%. The company is expected to announce its next quarterly earnings report on Thursday, July 29th.
According to Zacks, analysts expect that Hubbell will report full year sales of $4.60 billion for the current financial year, with estimates ranging from $4.57 billion to $4.64 billion. For the next financial year, analysts forecast that the business will post sales of $4.87 billion, with estimates ranging from $4.80 billion to $4.94 billion. Zacks' sales averages are an average based on a survey of research firms that cover Hubbell.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, April 27th. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.67 by $0.05. Hubbell had a net margin of 8.48% and a return on equity of 20.42%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $1.64 EPS. Hubbell's revenue for the quarter was down 1.1% on a year-over-year basis.
Several analysts have recently weighed in on HUBB shares. Morgan Stanley lifted their target price on shares of Hubbell from $197.00 to $203.00 and gave the company an "equal weight" rating in a report on Wednesday, April 28th. Zacks Investment Research cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Tuesday, May 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. The stock has an average rating of "Hold" and an average target price of $187.75.
In other news, Director Carlos M. Cardoso sold 1,059 shares of the business's stock in a transaction that occurred on Friday, May 28th. The shares were sold at an average price of $190.28, for a total value of $201,506.52. Following the completion of the transaction, the director now owns 1,991 shares of the company's stock, valued at $378,847.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Stephen M. Mais sold 3,178 shares of the business's stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $193.29, for a total transaction of $614,275.62. Following the completion of the transaction, the vice president now directly owns 16,146 shares of the company's stock, valued at approximately $3,120,860.34. The disclosure for this sale can be found here. Insiders own 1.62% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in HUBB. Crescent Capital Consulting LLC purchased a new stake in Hubbell in the first quarter valued at approximately $32,000. Concord Wealth Partners purchased a new stake in Hubbell in the first quarter valued at approximately $33,000. Wealthcare Advisory Partners LLC purchased a new stake in Hubbell in the first quarter valued at approximately $38,000. Signaturefd LLC grew its holdings in Hubbell by 362.0% in the first quarter. Signaturefd LLC now owns 231 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 181 shares during the period. Finally, Gradient Investments LLC purchased a new stake in Hubbell in the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 85.24% of the company's stock.
Shares of NYSE:HUBB opened at $184.62 on Friday. The stock has a market capitalization of $10.03 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 2.29 and a beta of 1.19. The company has a 50-day moving average price of $190.61. The company has a current ratio of 1.59, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. Hubbell has a fifty-two week low of $117.17 and a fifty-two week high of $201.06.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Monday, May 31st will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, May 27th. Hubbell's payout ratio is currently 51.72%.
Hubbell Company Profile
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. The company operates through two segments, Electrical Solution and Utility Solution. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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