Hubbell (HUBB) to Release Earnings on Tuesday

Hubbell (NYSE:HUBB) is set to release its earnings data before the market opens on Tuesday, April 30th. Analysts expect Hubbell to post earnings of $3.54 per share for the quarter. Hubbell has set its FY24 guidance at $16.00-16.50 EPS and its FY 2024 guidance at 16.000-16.500 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $2.60 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts expect Hubbell to post $16 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Hubbell Price Performance

HUBB stock opened at $407.53 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Hubbell has a one year low of $248.37 and a one year high of $429.61. The firm has a market capitalization of $21.86 billion, a PE ratio of 29.01, a P/E/G ratio of 2.45 and a beta of 0.94. The firm has a 50-day moving average of $395.96 and a two-hundred day moving average of $342.87.

Insider Buying and Selling

In related news, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the transaction, the vice president now owns 3,646 shares in the company, valued at $1,286,090.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the transaction, the vice president now owns 3,646 shares in the company, valued at $1,286,090.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,125 shares of company stock worth $12,065,100. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HUBB. Mizuho upped their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Barclays increased their price target on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company increased their price target on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $383.57.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, 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.