Equities analysts expect Hubbell Inc (NYSE:HUBB) to announce sales of $897.16 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Hubbell’s earnings, with the lowest sales estimate coming in at $892.49 million and the highest estimate coming in at $905.00 million. Hubbell posted sales of $854.20 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The business is expected to announce its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Hubbell will report full-year sales of $897.16 million for the current fiscal year, with estimates ranging from $3.64 billion to $3.66 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.77 billion per share, with estimates ranging from $3.75 billion to $3.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Hubbell.
Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.50 by $0.15. The business had revenue of $950.50 million during the quarter, compared to analyst estimates of $960.28 million. Hubbell had a net margin of 7.96% and a return on equity of 19.69%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share.
In other news, insider Gerben Bakker sold 590 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $125.34, for a total value of $73,950.60. Following the completion of the sale, the insider now directly owns 13,249 shares of the company’s stock, valued at $1,660,629.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.28% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of HUBB. Quantbot Technologies LP increased its holdings in Hubbell by 33.3% in the third quarter. Quantbot Technologies LP now owns 6,699 shares of the industrial products company’s stock worth $777,000 after buying an additional 1,675 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Hubbell by 57.8% in the second quarter. Riverhead Capital Management LLC now owns 2,998 shares of the industrial products company’s stock worth $339,000 after buying an additional 1,098 shares during the last quarter. Nuance Investments LLC increased its holdings in Hubbell by 141.3% in the second quarter. Nuance Investments LLC now owns 53,387 shares of the industrial products company’s stock worth $6,042,000 after buying an additional 31,260 shares during the last quarter. Legal & General Group Plc increased its holdings in Hubbell by 17.3% in the second quarter. Legal & General Group Plc now owns 61,205 shares of the industrial products company’s stock worth $6,928,000 after buying an additional 9,042 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Hubbell by 6.1% in the second quarter. Neuberger Berman Group LLC now owns 418,988 shares of the industrial products company’s stock worth $47,417,000 after buying an additional 24,105 shares during the last quarter. 85.21% of the stock is owned by institutional investors and hedge funds.
Hubbell (NYSE:HUBB) opened at $126.73 on Wednesday. The company has a market cap of $7,017.46, a PE ratio of 22.35, a PEG ratio of 2.36 and a beta of 1.09. The company has a current ratio of 2.28, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59. Hubbell has a 12-month low of $109.32 and a 12-month high of $129.21.
Hubbell announced that its board has approved a share repurchase plan on Friday, October 20th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
The company 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 dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $0.70. This represents a $3.08 dividend on an annualized basis and a yield of 2.43%. Hubbell’s dividend payout ratio is currently 59.34%.
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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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