Hubbell (HUBB) Increases Despite Market Slip: Here's What You Need to Know
Hubbell (HUBB) closed at $281.85 in the latest trading session, marking a +0.7% move from the prior day. The stock's change was more than the S&P 500's daily loss of 1.18%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.76%.
Prior to today's trading, shares of the electrical products manufacturer had lost 11.46% over the past month. This has lagged the Industrial Products sector's loss of 6.04% and the S&P 500's loss of 3.35% in that time.
The upcoming earnings release of Hubbell will be of great interest to investors. The company's earnings report is expected on October 31, 2023. On that day, Hubbell is projected to report earnings of $4.07 per share, which would represent year-over-year growth of 32.14%. Our most recent consensus estimate is calling for quarterly revenue of $1.42 billion, up 8.17% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.35 per share and a revenue of $5.42 billion, indicating changes of +44.54% and +9.63%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hubbell. Such recent modifications usually signify the changing landscape of near-term business trends. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.25% increase. Hubbell is currently a Zacks Rank #3 (Hold).
In the context of valuation, Hubbell is at present trading with a Forward P/E ratio of 18.23. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 18.23.
It's also important to note that HUBB currently trades at a PEG ratio of 1.82. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Manufacturing - Electrical Utilities industry was having an average PEG ratio of 1.82.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
