Hubbell (HUBB) Dips More Than Broader Market: What You Should Know
In the latest market close, Hubbell (HUBB) reached $380.65, with a -1.83% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.02%. Elsewhere, the Dow saw a downswing of 1.04%, while the tech-heavy Nasdaq depreciated by 1.65%.
Shares of the electrical products manufacturer have appreciated by 10.47% over the course of the past month, outperforming the Industrial Products sector's gain of 5.56% and the S&P 500's gain of 3.64%.
Analysts and investors alike will be keeping a close eye on the performance of Hubbell in its upcoming earnings disclosure. On that day, Hubbell is projected to report earnings of $3.54 per share, which would represent a year-over-year decline of 1.94%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.4 billion, indicating an 8.7% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $16.39 per share and revenue of $5.87 billion, which would represent changes of +6.91% and +9.24%, respectively, from the prior year.
Any recent changes to analyst estimates for Hubbell should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Hubbell is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 23.66. This denotes no noticeable deviation relative to the industry's average Forward P/E of 23.66.
Investors should also note that HUBB has a PEG ratio of 2.37 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Manufacturing - Electrical Utilities was holding an average PEG ratio of 2.37 at yesterday's closing price.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
