Why the Market Dipped But Hubbell (HUBB) Gained Today
In the latest market close, Hubbell (HUBB) reached $399.53, with a +0.66% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.19% for the day. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.54%.
Heading into today, shares of the electrical products manufacturer had gained 12.57% over the past month, outpacing the Industrial Products sector's gain of 4.2% and the S&P 500's gain of 3.18% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Hubbell in its upcoming earnings disclosure. The company is expected to report EPS of $3.54, down 1.94% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.39 billion, indicating an 8.46% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $16.41 per share and a revenue of $5.86 billion, representing changes of +7.05% and +9%, respectively, from the prior 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 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.11% higher within the past month. Hubbell is currently a Zacks Rank #3 (Hold).
With respect to valuation, Hubbell is currently being traded at a Forward P/E ratio of 24.19. This represents no noticeable deviation compared to its industry's average Forward P/E of 24.19.
Investors should also note that HUBB has a PEG ratio of 2.42 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. The Manufacturing - Electrical Utilities was holding an average PEG ratio of 2.42 at yesterday's closing price.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hubbell Inc (HUBB) : Free Stock Analysis Report
