Hubbell (HUBB) Gains As Market Dips: What You Should Know
Hubbell (HUBB) closed at $370.82 in the latest trading session, marking a +0.91% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.17% for the day. Elsewhere, the Dow saw a downswing of 0.06%, while the tech-heavy Nasdaq depreciated by 0.55%.
The electrical products manufacturer's stock has climbed by 6.73% in the past month, exceeding the Industrial Products sector's gain of 5.62% and the S&P 500's gain of 3.98%.
The investment community will be closely monitoring the performance of Hubbell in its forthcoming earnings report. It is anticipated that the company will report an EPS of $3.54, marking a 1.94% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.4 billion, up 8.7% from the prior-year quarter.
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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Hubbell. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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, the Zacks Consensus EPS estimate has shifted 0.07% upward. Hubbell is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Hubbell is presently trading at a Forward P/E ratio of 22.42. This denotes no noticeable deviation relative to the industry's average Forward P/E of 22.42.
Investors should also note that HUBB has a PEG ratio of 2.24 right now. 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. As the market closed yesterday, the Manufacturing - Electrical Utilities industry was having an average PEG ratio of 2.24.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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
