Brokerages expect that Hubbell Incorporated (NYSE:HUBB – Get Rating) will report sales of $1.20 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Hubbell’s earnings, with the highest sales estimate coming in at $1.22 billion and the lowest estimate coming in at $1.20 billion. Hubbell reported sales of $1.19 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Hubbell will report full-year sales of $4.73 billion for the current year, with estimates ranging from $4.69 billion to $4.77 billion. For the next fiscal year, analysts expect that the company will report sales of $4.95 billion, with estimates ranging from $4.85 billion to $5.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Hubbell.
Hubbell (NYSE:HUBB – Get Rating) last posted its earnings results on Tuesday, April 26th. The industrial products company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.86 by $0.26. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.09 billion. Hubbell had a return on equity of 21.89% and a net margin of 10.77%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.72 earnings per share.
In related news, Director Carlos M. Cardoso sold 749 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $193.73, for a total transaction of $145,103.77. Following the completion of the sale, the director now owns 1,744 shares of the company’s stock, valued at $337,865.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in Hubbell by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 572,140 shares of the industrial products company’s stock valued at $103,381,000 after acquiring an additional 1,789 shares during the period. Covestor Ltd acquired a new stake in Hubbell in the fourth quarter valued at approximately $46,000. Jade Capital Advisors LLC acquired a new stake in Hubbell in the third quarter valued at approximately $3,613,000. CIBC Private Wealth Group LLC grew its stake in Hubbell by 0.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 92,129 shares of the industrial products company’s stock valued at $19,187,000 after acquiring an additional 380 shares during the period. Finally, State Street Corp grew its stake in Hubbell by 1.9% in the fourth quarter. State Street Corp now owns 1,432,197 shares of the industrial products company’s stock valued at $298,284,000 after acquiring an additional 26,570 shares during the period. 86.37% of the stock is owned by institutional investors and hedge funds.
Hubbell stock opened at $193.42 on Monday. The company has a current ratio of 2.00, a quick ratio of 1.27 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $10.38 billion, a PE ratio of 21.09, a P/E/G ratio of 2.06 and a beta of 1.13. Hubbell has a 12 month low of $170.76 and a 12 month high of $212.54. The stock has a 50-day moving average price of $189.92 and a two-hundred day moving average price of $192.49.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, May 27th. This represents a $4.20 annualized dividend and a yield of 2.17%. Hubbell’s dividend payout ratio is currently 45.80%.
About Hubbell (Get Rating)
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.
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