Hubbell (HUBB) Scheduled to Post Quarterly Earnings on Tuesday

Hubbell (NYSE:HUBB) will post its quarterly earnings results 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.Parties interested in registering for the company’s conference call can do so using this link.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business posted $2.60 earnings per share. The firm’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 Stock Up 1.3 %

HUBB stock opened at $407.53 on Monday. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.48 and a beta of 0.94. Hubbell has a 1-year low of $248.37 and a 1-year high of $429.61. The firm has a fifty day moving average price of $395.96 and a two-hundred day moving average price of $343.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01.

Analysts Set New Price Targets

Several research firms recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho increased their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Barclays boosted their target price on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $383.57.

Insider Activity at Hubbell

In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Mark Eugene Mikes sold 397 shares of the business’s 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 sale, the insider now directly owns 4,899 shares in the company, valued at approximately $1,780,541.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, the vice president now owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $12,065,100 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.

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.