$1.13 Billion in Sales Expected for Hubbell Incorporated (HUBB) This Quarter

Wall Street brokerages expect Hubbell Incorporated (NYSE:HUBB) to report $1.13 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Hubbell’s earnings, with the highest sales estimate coming in at $1.14 billion and the lowest estimate coming in at $1.12 billion. Hubbell posted sales of $948.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.2%. The company is scheduled to issue its next earnings results on Tuesday, July 24th.

On average, analysts expect that Hubbell will report full-year sales of $4.34 billion for the current fiscal year, with estimates ranging from $4.30 billion to $4.39 billion. For the next financial year, analysts anticipate that the firm will report sales of $4.53 billion per share, with estimates ranging from $4.49 billion to $4.56 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Hubbell.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm had revenue of $991.20 million during the quarter, compared to analyst estimates of $975.95 million. Hubbell had a net margin of 6.27% and a return on equity of 20.40%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS.

Several equities research analysts have commented on the stock. ValuEngine lowered shares of Hubbell from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of Hubbell from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. JPMorgan Chase & Co. reduced their target price on shares of Hubbell from $152.00 to $138.00 and set an “overweight” rating for the company in a research report on Thursday, April 26th. Morgan Stanley reduced their target price on shares of Hubbell from $145.00 to $133.00 and set an “overweight” rating for the company in a research report on Wednesday, April 25th. Finally, Oppenheimer reduced their target price on shares of Hubbell from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $143.00.

NYSE:HUBB opened at $112.09 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.92 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.58 and a beta of 1.05. Hubbell has a 52 week low of $100.55 and a 52 week high of $149.03.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, May 30th. Hubbell’s dividend payout ratio is currently 51.94%.

In other Hubbell news, Director Neal J. Keating acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was bought at an average cost of $105.96 per share, with a total value of $105,960.00. Following the acquisition, the director now owns 6,571 shares in the company, valued at $696,263.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodd Richard Ruland acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was acquired at an average cost of $105.19 per share, with a total value of $210,380.00. The disclosure for this purchase can be found here. 0.69% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. DekaBank Deutsche Girozentrale bought a new position in Hubbell in the 1st quarter worth approximately $111,000. Point72 Asia Hong Kong Ltd bought a new position in Hubbell in the 1st quarter worth approximately $143,000. Granite Springs Asset Management LLC bought a new position in Hubbell in the 4th quarter worth approximately $202,000. Rodgers Brothers Inc. bought a new position in Hubbell in the 4th quarter worth approximately $217,000. Finally, Oppenheimer & Co. Inc. bought a new position in Hubbell in the 1st quarter worth approximately $223,000. 85.70% of the stock is owned by institutional investors.

About Hubbell

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical 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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