Hubbell (HUBB) Stock Declines While Market Improves: Some Information for Investors
Hubbell (HUBB) closed at $323.69 in the latest trading session, marking a -0.44% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.59%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.66%.
Shares of the electrical products manufacturer have appreciated by 8.1% over the course of the past month, outperforming the Industrial Products sector's gain of 7.67% and the S&P 500's gain of 5.16%.
Investors will be eagerly watching for the performance of Hubbell in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.59, reflecting a 38.08% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.31 billion, up 7.63% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.16 per share and a revenue of $5.34 billion, indicating changes of +42.75% and +7.92%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Hubbell. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. Hubbell presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Hubbell is presently being traded at a Forward P/E ratio of 21.44. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 21.44.
One should further note that HUBB currently holds a PEG ratio of 2.14. 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. Manufacturing - Electrical Utilities stocks are, on average, holding a PEG ratio of 2.14 based on yesterday's closing prices.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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
