Hubbell (HUBB) Falls More Steeply Than Broader Market: What Investors Need to Know
Hubbell (HUBB) closed the most recent trading day at $325.92, moving -0.92% from the previous trading session. This change lagged the S&P 500's daily loss of 0.57%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
The electrical products manufacturer's shares have seen an increase of 8.44% over the last month, surpassing the Industrial Products sector's gain of 7.71% and the S&P 500's gain of 4%.
The investment community will be closely monitoring the performance of Hubbell in its forthcoming earnings report. On that day, Hubbell is projected to report earnings of $3.25 per share, which would represent year-over-year growth of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.31 billion, up 7.63% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Hubbell. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.14% lower. At present, Hubbell boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Hubbell currently has a Forward P/E ratio of 19.99. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 19.99.
One should further note that HUBB currently holds a PEG ratio of 2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HUBB's industry had an average PEG ratio of 2 as of yesterday's close.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
