Hubbell (HUBB) Scheduled to Post Earnings on Tuesday

Hubbell (NYSE:HUBB) is set to post its quarterly earnings results before the market opens on Tuesday, July 30th. Analysts expect Hubbell to post earnings of $4.23 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.Investors that wish to register for the company’s conference call can do so using this link.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. Hubbell’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $3.61 earnings per share. On average, analysts expect Hubbell to post $16 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Hubbell Stock Performance

Shares of Hubbell stock opened at $367.09 on Monday. The business’s fifty day simple moving average is $379.20 and its 200 day simple moving average is $379.34. The firm has a market capitalization of $19.71 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.36 and a beta of 0.90. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. Barclays dropped their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

Insider Activity

In related news, Director Neal J. Keating acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the purchase, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Neal J. Keating acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the purchase, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,055 shares of company stock worth $1,232,139. 0.66% of the stock is owned by corporate insiders.

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.