Hubbell (NYSE:HUBB) Updates FY 2022 Earnings Guidance

Hubbell (NYSE:HUBBGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $9.20-$9.40 for the period, compared to the consensus earnings per share estimate of $9.30. The company issued revenue guidance of -.

Several brokerages have recently weighed in on HUBB. StockNews.com upgraded shares of Hubbell from a hold rating to a buy rating in a research report on Saturday, April 30th. Morgan Stanley dropped their target price on shares of Hubbell from $200.00 to $190.00 and set an equal weight rating for the company in a research note on Tuesday, May 31st. Mizuho dropped their target price on shares of Hubbell from $240.00 to $220.00 and set a buy rating for the company in a research note on Monday, February 7th. Zacks Investment Research upgraded shares of Hubbell from a sell rating to a hold rating in a research report on Tuesday, February 15th. Finally, Wells Fargo & Company lifted their price target on shares of Hubbell from $181.00 to $200.00 in a research report on Thursday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $204.50.

Shares of HUBB traded up $0.01 during trading hours on Tuesday, hitting $197.97. The company had a trading volume of 2,148 shares, compared to its average volume of 250,347. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 2.07 and a beta of 1.13. The business has a fifty day moving average of $190.13 and a 200-day moving average of $192.41. Hubbell has a 12 month low of $170.76 and a 12 month high of $212.54. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 0.65.

Hubbell (NYSE:HUBBGet Rating) last released its quarterly 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. Hubbell had a net margin of 10.77% and a return on equity of 21.89%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company posted $1.72 earnings per share. Hubbell’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Hubbell will post 9.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.12%. Hubbell’s payout ratio is 45.80%.

In other news, Director Carlos M. Cardoso sold 749 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $193.73, for a total value of $145,103.77. Following the completion of the transaction, the director now owns 1,744 shares of the company’s stock, valued at $337,865.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in HUBB. Wellington Management Group LLP raised its holdings in Hubbell by 133.8% during the 1st quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock worth $283,646,000 after purchasing an additional 883,272 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Hubbell by 1,817.2% during the 1st quarter. Prudential Financial Inc. now owns 143,443 shares of the industrial products company’s stock worth $26,361,000 after buying an additional 135,961 shares during the period. BlackRock Inc. grew its position in shares of Hubbell by 1.8% during the 4th quarter. BlackRock Inc. now owns 4,600,724 shares of the industrial products company’s stock worth $958,194,000 after buying an additional 82,951 shares during the period. Walleye Capital LLC grew its position in shares of Hubbell by 131.0% during the 1st quarter. Walleye Capital LLC now owns 132,147 shares of the industrial products company’s stock worth $24,285,000 after buying an additional 74,931 shares during the period. Finally, State Street Corp grew its position in shares of Hubbell by 4.1% during the 1st quarter. State Street Corp now owns 1,491,325 shares of the industrial products company’s stock worth $274,061,000 after buying an additional 59,128 shares during the period. Hedge funds and other institutional investors own 86.37% of the company’s stock.

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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Earnings History and Estimates for Hubbell (NYSE:HUBB)

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