Zacks: Analysts Anticipate Hubbell Incorporated (HUBB) Will Post Earnings of $2.10 Per Share

Equities analysts predict that Hubbell Incorporated (NYSE:HUBB) will announce earnings per share (EPS) of $2.10 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hubbell’s earnings, with estimates ranging from $2.04 to $2.16. Hubbell reported earnings of $1.65 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 27.3%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, October 23rd.

On average, analysts expect that Hubbell will report full year earnings of $7.32 per share for the current financial year, with EPS estimates ranging from $7.25 to $7.40. For the next fiscal year, analysts anticipate that the firm will report earnings of $8.05 per share, with EPS estimates ranging from $7.93 to $8.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Hubbell.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.19. Hubbell had a net margin of 6.45% and a return on equity of 21.57%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $1.43 EPS. The company’s revenue was up 23.0% on a year-over-year basis.

A number of equities research analysts have issued reports on HUBB shares. Morgan Stanley started coverage on shares of Hubbell in a research note on Tuesday, August 21st. They set an “overweight” rating and a $133.00 target price for the company. Wells Fargo & Co reissued an “outperform” rating and set a $140.00 target price (up previously from $135.00) on shares of Hubbell in a research note on Wednesday, July 25th. Zacks Investment Research lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. ValuEngine lowered shares of Hubbell from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, JMP Securities upgraded shares of Hubbell from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $141.17.

Shares of NYSE:HUBB traded down $0.90 during trading on Friday, reaching $134.73. 4,173 shares of the company traded hands, compared to its average volume of 329,439. The firm has a market capitalization of $7.49 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09. Hubbell has a 1-year low of $100.55 and a 1-year high of $149.03. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 1.12.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a dividend of $0.77 per share. The ex-dividend date was Thursday, August 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.29%. Hubbell’s dividend payout ratio is currently 51.94%.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Hubbell by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 784,889 shares of the industrial products company’s stock worth $82,995,000 after acquiring an additional 3,184 shares during the period. Schroder Investment Management Group raised its holdings in Hubbell by 18.5% in the 2nd quarter. Schroder Investment Management Group now owns 485,900 shares of the industrial products company’s stock worth $51,495,000 after acquiring an additional 75,700 shares during the period. Advisors Asset Management Inc. raised its holdings in Hubbell by 134.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,301 shares of the industrial products company’s stock worth $1,089,000 after acquiring an additional 5,900 shares during the period. Global X Management Co LLC raised its holdings in Hubbell by 17.9% in the 2nd quarter. Global X Management Co LLC now owns 13,320 shares of the industrial products company’s stock worth $1,408,000 after acquiring an additional 2,023 shares during the period. Finally, Bank of Nova Scotia bought a new position in Hubbell in the 2nd quarter worth $6,736,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Hubbell Company Profile

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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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