Hubbell (HUBB) Surpasses Market Returns: Some Facts Worth Knowing
In the latest market close, Hubbell (HUBB) reached $322.88, with a +1.48% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 1.41%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 2.2%.
The electrical products manufacturer's shares have seen an increase of 3.24% over the last month, not keeping up with the Industrial Products sector's gain of 6.16% and outstripping the S&P 500's gain of 2.9%.
Market participants will be closely following the financial results of Hubbell in its upcoming release. The company's upcoming EPS is projected at $3.25, signifying a 25% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.31 billion, up 7.63% from the prior-year quarter.
Any recent changes to analyst estimates for Hubbell should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.19% downward. Hubbell presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 19.33. This expresses no noticeable deviation compared to the average Forward P/E of 19.33 of its industry.
Also, we should mention that HUBB has a PEG ratio of 1.93. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HUBB's industry had an average PEG ratio of 1.93 as of yesterday's close.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
