Hubbell Inc (HUBB) Issues FY17 Earnings Guidance
Hubbell Inc (NYSE:HUBB) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $5.40-5.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.47.
A number of brokerages have commented on HUBB. Zacks Investment Research raised Hubbell from a sell rating to a hold rating in a research report on Thursday, July 27th. Morgan Stanley reaffirmed an overweight rating and set a $132.00 price target (up previously from $130.00) on shares of Hubbell in a research report on Monday, October 2nd. Wolfe Research began coverage on Hubbell in a research report on Tuesday, July 11th. They set a market perform rating for the company. Finally, BidaskClub raised Hubbell from a sell rating to a hold rating in a research report on Wednesday, September 27th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Hubbell has a consensus rating of Hold and an average target price of $124.00.
Hubbell Inc (NYSE:HUBB) opened at 121.32 on Tuesday. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 23.02 and a beta of 1.04. Hubbell Inc has a 1-year low of $101.61 and a 1-year high of $125.93. The firm’s 50 day moving average price is $115.76 and its 200-day moving average price is $115.48.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The company had revenue of $948.30 million during the quarter, compared to the consensus estimate of $937.35 million. During the same quarter in the prior year, the firm posted $1.53 earnings per share. Hubbell’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Hubbell Inc will post $5.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $0.70. Hubbell’s dividend payout ratio is currently 53.03%.
Hubbell announced that its Board of Directors has authorized a stock repurchase program on Friday, October 20th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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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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