Hubbell (HUBB) Set to Announce Earnings on Tuesday

Hubbell (NYSE:HUBB) will be issuing its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $4.47 per share for the quarter. Hubbell has set its FY24 guidance at $16.20-16.50 EPS and its FY 2024 guidance at 16.200-16.500 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the company earned $4.07 earnings per share. The company’s quarterly revenue was up 6.3% 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 opened at $456.81 on Tuesday. The stock has a market capitalization of $24.52 billion, a PE ratio of 34.06, a P/E/G ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. Hubbell has a 1 year low of $248.37 and a 1 year high of $461.77. The company’s 50 day simple moving average is $410.39 and its 200 day simple moving average is $393.60.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.07%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on HUBB. Wells Fargo & Company lifted their price target on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Stephens reaffirmed an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Barclays lifted their price target on shares of Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley started coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $428.13.

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.