Hubbell (HUBB) Gains As Market Dips: What You Should Know
In the latest trading session, Hubbell (HUBB) closed at $316.92, marking a +1.01% move from the previous day. This move outpaced the S&P 500's daily loss of 0.7%. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq lost 1.06%.
Heading into today, shares of the electrical products manufacturer had lost 0.13% over the past month, outpacing the Industrial Products sector's loss of 0.43% and lagging the S&P 500's gain of 0.58% in that time.
Wall Street will be looking for positivity from Hubbell as it approaches its next earnings report date. The company is expected to report EPS of $4.01, up 30.19% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.41 billion, up 7.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.32 per share and revenue of $5.4 billion, which would represent changes of +44.26% and +9.21%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hubbell. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Hubbell is currently a Zacks Rank #2 (Buy).
Digging into valuation, Hubbell currently has a Forward P/E ratio of 20.49. Its industry sports an average Forward P/E of 20.49, so we one might conclude that Hubbell is trading at a no noticeable deviation comparatively.
Also, we should mention that HUBB has a PEG ratio of 2.05. 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 2.05 at yesterday's closing price.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
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
