Hubbell (HUBB) Set to Announce Quarterly Earnings on Tuesday

Hubbell (NYSE:HUBB) is set to release its earnings data before the market opens on Tuesday, April 30th. Analysts expect Hubbell to post earnings of $3.54 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, analysts expect Hubbell to post $16 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Hubbell Stock Up 0.7 %

NYSE:HUBB opened at $390.77 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. Hubbell has a one year low of $230.50 and a one year high of $429.61. The firm’s 50 day simple moving average is $392.44 and its 200 day simple moving average is $340.49. The company has a market cap of $20.96 billion, a PE ratio of 27.81, a P/E/G ratio of 2.36 and a beta of 0.94.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $1.22 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.25%. Hubbell’s dividend payout ratio is 34.73%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays raised their target price on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Mizuho increased their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Five equities research 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 a consensus rating of “Moderate Buy” and an average target price of $383.57.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the transaction, the vice president now directly owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,125 shares of company stock worth $12,065,100. Insiders own 0.78% of the company’s stock.

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.