Hubbell (HUBB) Exceeds Market Returns: Some Facts to Consider
In the latest market close, Hubbell (HUBB) reached $319.03, with a +1.32% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.46% for the day. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.7%.
The electrical products manufacturer's stock has climbed by 8.28% in the past month, exceeding the Industrial Products sector's gain of 6.59% and the S&P 500's gain of 4.85%.
Market participants will be closely following the financial results of Hubbell in its upcoming release. The company's upcoming EPS is projected at $3.56, signifying a 36.92% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.31 billion, up 7.63% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $15.19 per share and a revenue of $5.34 billion, demonstrating changes of +43.03% and +7.92%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Hubbell. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Hubbell boasts a Zacks Rank of #3 (Hold).
Investors should also note Hubbell's current valuation metrics, including its Forward P/E ratio of 20.74. This signifies no noticeable deviation in comparison to the average Forward P/E of 20.74 for its industry.
Meanwhile, HUBB's PEG ratio is currently 2.07. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Manufacturing - Electrical Utilities industry stood at 2.07 at the close of the market yesterday.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 36% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
