Hubbell (HUBB) Stock Dips While Market Gains: Key Facts
Hubbell (HUBB) closed at $328.02 in the latest trading session, marking a -0.26% move from the prior day. This change lagged the S&P 500's daily gain of 0.14%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 0.16%.
Prior to today's trading, shares of the electrical products manufacturer had gained 11.52% over the past month. This has outpaced the Industrial Products sector's gain of 10.3% and the S&P 500's gain of 4.89% in that time.
The investment community will be closely monitoring the performance of Hubbell in its forthcoming earnings report. In that report, analysts expect Hubbell to post earnings of $3.25 per share. This would mark year-over-year growth of 25%. In the meantime, our current consensus estimate forecasts the revenue to be $1.31 billion, indicating a 7.63% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $15.16 per share and revenue of $5.34 billion, indicating changes of +42.75% and +7.92%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Hubbell. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.14% lower. Hubbell is currently a Zacks Rank #3 (Hold).
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 21.69. This expresses no noticeable deviation compared to the average Forward P/E of 21.69 of its industry.
Meanwhile, HUBB's PEG ratio is currently 2.17. 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. HUBB's industry had an average PEG ratio of 2.17 as of yesterday's close.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 95, placing it within the top 38% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Hubbell Inc (HUBB) : Free Stock Analysis Report
