Hubbell (HUBB) Advances While Market Declines: Some Information for Investors
The most recent trading session ended with Hubbell (HUBB) standing at $417.92, reflecting a +0.7% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.14%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq gained 0.17%.
Prior to today's trading, shares of the electrical products manufacturer had gained 13.79% over the past month. This has outpaced the Industrial Products sector's gain of 8.96% and the S&P 500's gain of 5.34% in that time.
The investment community will be closely monitoring the performance of Hubbell in its forthcoming earnings report. The company is predicted to post an EPS of $3.54, indicating a 1.94% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.39 billion, up 8.46% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $16.41 per share and a revenue of $5.86 billion, indicating changes of +7.05% and +9%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Hubbell. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.11% higher. Hubbell currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 25.29. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 25.29.
We can also see that HUBB currently has a PEG ratio of 2.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Manufacturing - Electrical Utilities industry stood at 2.53 at the close of the market yesterday.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
