Hubbell (HUBB) Rises As Market Takes a Dip: Key Facts
The latest trading session saw Hubbell (HUBB) ending at $303.41, denoting a +1.2% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
The electrical products manufacturer's shares have seen an increase of 7.61% over the last month, surpassing the Industrial Products sector's gain of 4.21% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of Hubbell in its upcoming release. In that report, analysts expect Hubbell to post earnings of $3.56 per share. This would mark year-over-year growth of 36.92%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.31 billion, indicating a 7.63% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.19 per share and a revenue of $5.34 billion, indicating changes of +43.03% and +7.92%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Hubbell. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 has moved 0.03% higher. Hubbell is currently a Zacks Rank #3 (Hold).
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 19.74. This signifies no noticeable deviation in comparison to the average Forward P/E of 19.74 for its industry.
Investors should also note that HUBB has a PEG ratio of 1.97 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Manufacturing - Electrical Utilities industry had an average PEG ratio of 1.97.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
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.
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
