Equities analysts forecast that Hubbell Incorporated (NYSE:HUBB) will post sales of $1.17 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Hubbell's earnings. Hubbell reported sales of $949.20 million during the same quarter last year, which indicates a positive year over year growth rate of 23.3%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, July 27th.
According to Zacks, analysts expect that Hubbell will report full-year sales of $4.60 billion for the current year, with estimates ranging from $4.57 billion to $4.64 billion. For the next year, analysts forecast that the company will post sales of $4.87 billion, with estimates ranging from $4.80 billion to $4.94 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research firms that cover Hubbell.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, April 27th. The industrial products company reported $1.72 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.67 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. Hubbell had a net margin of 8.48% and a return on equity of 20.42%. The company's revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS.
A number of brokerages have issued reports on HUBB. Morgan Stanley lifted their price target 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 downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Tuesday, May 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus target price of $187.75.
In other Hubbell news, Director Carlos M. Cardoso sold 1,059 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 1,991 shares of the company's stock, valued at approximately $378,847.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Stephen M. Mais sold 3,178 shares of the business's stock in a transaction dated 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 sale, the vice president now directly owns 16,146 shares of the company's stock, valued at $3,120,860.34. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in HUBB. Price T Rowe Associates Inc. MD boosted its position in Hubbell by 542.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,423,861 shares of the industrial products company's stock valued at $452,995,000 after buying an additional 2,046,317 shares during the period. FIL Ltd raised its holdings in shares of Hubbell by 164.1% in the 4th quarter. FIL Ltd now owns 960,006 shares of the industrial products company's stock valued at $150,519,000 after purchasing an additional 596,481 shares in the last quarter. Norges Bank bought a new stake in shares of Hubbell in the 4th quarter valued at about $89,355,000. Nuveen Asset Management LLC raised its holdings in shares of Hubbell by 31.7% in the 1st quarter. Nuveen Asset Management LLC now owns 1,470,370 shares of the industrial products company's stock valued at $274,797,000 after purchasing an additional 353,540 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Hubbell by 17.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,589,060 shares of the industrial products company's stock valued at $296,979,000 after purchasing an additional 239,537 shares in the last quarter. 85.24% of the stock is owned by institutional investors.
Shares of HUBB stock opened at $197.37 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.68. The company has a market cap of $10.72 billion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 2.26 and a beta of 1.19. The company's fifty day moving average price is $187.62. Hubbell has a one year low of $130.69 and a one year high of $201.06.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Monday, May 31st were paid a dividend of $0.98 per share. The ex-dividend date was Thursday, May 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. Hubbell's dividend payout ratio is presently 51.72%.
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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