Zacks: Brokerages Anticipate Hubbell Incorporated (HUBB) to Post $1.45 Earnings Per Share

Brokerages expect that Hubbell Incorporated (NYSE:HUBB) will post earnings of $1.45 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hubbell’s earnings, with the lowest EPS estimate coming in at $1.33 and the highest estimate coming in at $1.53. Hubbell posted earnings of $1.23 per share during the same quarter last year, which would indicate a positive year over year growth rate of 17.9%. The firm is expected to issue its next earnings report on Tuesday, April 24th.

On average, analysts expect that Hubbell will report full year earnings of $7.20 per share for the current fiscal year, with EPS estimates ranging from $7.15 to $7.27. For the next year, analysts anticipate that the firm will post earnings of $7.98 per share, with EPS estimates ranging from $7.80 to $8.10. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Hubbell.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.12. The business had revenue of $917.70 million during the quarter, compared to the consensus estimate of $901.23 million. Hubbell had a net margin of 6.63% and a return on equity of 20.16%. Hubbell’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.35 EPS.

A number of research firms have issued reports on HUBB. Zacks Investment Research downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Wolfe Research raised shares of Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Friday, February 9th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Oppenheimer raised shares of Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a report on Friday, January 12th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $143.00 price objective (up from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $153.60.

Hubbell (HUBB) traded up $0.14 on Friday, reaching $135.91. 30,536 shares of the company’s stock were exchanged, compared to its average volume of 388,995. The company has a quick ratio of 1.37, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. The stock has a market cap of $7,331.14, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.01. Hubbell has a 1 year low of $109.32 and a 1 year high of $149.03.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, February 27th. Hubbell’s dividend payout ratio is 70.00%.

Hubbell declared that its board has initiated a share buyback program on Friday, October 20th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, Chairman David G. Nord sold 12,076 shares of Hubbell stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total transaction of $1,615,285.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.28% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its stake in shares of Hubbell by 7.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 451,542 shares of the industrial products company’s stock worth $61,112,000 after purchasing an additional 32,188 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Hubbell by 3.8% during the 4th quarter. Glenmede Trust Co. NA now owns 12,693 shares of the industrial products company’s stock worth $1,717,000 after purchasing an additional 463 shares during the period. Vident Investment Advisory LLC raised its stake in shares of Hubbell by 79.1% during the 4th quarter. Vident Investment Advisory LLC now owns 7,949 shares of the industrial products company’s stock worth $1,076,000 after purchasing an additional 3,510 shares during the period. Rodgers Brothers Inc. bought a new stake in shares of Hubbell during the 4th quarter worth $217,000. Finally, Flinton Capital Management LLC raised its stake in shares of Hubbell by 27.4% during the 4th quarter. Flinton Capital Management LLC now owns 3,792 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 816 shares during the period. Institutional investors own 85.04% of the company’s stock.

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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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