Hubbell (HUBB) Outperforms Broader Market: What You Need to Know
In the latest market close, Hubbell (HUBB) reached $334.76, with a +1.56% movement compared to the previous day. This change outpaced the S&P 500's 0.22% gain on the day. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.32%.
Prior to today's trading, shares of the electrical products manufacturer had gained 1.11% over the past month. This has outpaced the Industrial Products sector's loss of 1.03% and lagged the S&P 500's gain of 1.61% in that time.
The upcoming earnings release of Hubbell will be of great interest to investors. The company's earnings report is expected on January 30, 2024. The company is expected to report EPS of $3.56, up 36.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.31 billion, up 7.63% from the year-ago period.
Any recent changes to analyst estimates for Hubbell should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Hubbell is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Hubbell is holding a Forward P/E ratio of 20.03. This denotes no noticeable deviation relative to the industry's average Forward P/E of 20.03.
Meanwhile, HUBB's PEG ratio is currently 2. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Electrical Utilities industry had an average PEG ratio of 2 as trading concluded yesterday.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 111, this industry ranks in the top 45% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
