FY2022 Earnings Estimate for Hubbell Incorporated Issued By Oppenheimer (NYSE:HUBB)

Hubbell Incorporated (NYSE:HUBBGet Rating) – Research analysts at Oppenheimer lifted their FY2022 earnings per share (EPS) estimates for Hubbell in a report issued on Wednesday, April 27th. Oppenheimer analyst C. Glynn now anticipates that the industrial products company will post earnings per share of $9.25 for the year, up from their previous forecast of $9.00. Oppenheimer also issued estimates for Hubbell’s FY2023 earnings at $10.15 EPS.

Hubbell (NYSE:HUBBGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.26. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.09 billion. Hubbell had a return on equity of 21.21% and a net margin of 8.72%. Hubbell’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.72 earnings per share.

HUBB has been the subject of several other research reports. Zacks Investment Research upgraded Hubbell from a “sell” rating to a “hold” rating in a report on Tuesday, February 15th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday, April 19th. Wells Fargo & Company increased their target price on Hubbell from $181.00 to $200.00 in a research note on Thursday. Mizuho dropped their price objective on Hubbell from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, February 7th. Finally, Morgan Stanley lifted their price objective on shares of Hubbell from $198.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $207.00.

Hubbell stock opened at $203.71 on Friday. The stock has a fifty day moving average of $184.66 and a 200 day moving average of $193.73. The stock has a market cap of $11.08 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.26. Hubbell has a one year low of $170.76 and a one year high of $212.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.14 and a current ratio of 1.76.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in Hubbell during the 4th quarter valued at about $28,000. Concord Wealth Partners grew its holdings in Hubbell by 173.8% in the fourth quarter. Concord Wealth Partners now owns 167 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 106 shares during the last quarter. National Bank of Canada FI acquired a new position in Hubbell during the 4th quarter valued at about $36,000. Zullo Investment Group Inc. acquired a new stake in Hubbell in the 4th quarter worth approximately $41,000. Finally, Quent Capital LLC purchased a new position in Hubbell in the 4th quarter worth $43,000. Institutional investors own 84.71% of the company’s stock.

In related news, CEO Gerben Bakker sold 1,148 shares of the stock in a transaction dated Friday, February 11th. The stock was sold at an average price of $186.37, for a total transaction of $213,952.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William R. Sperry sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $188.70, for a total value of $1,887,000.00. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, May 27th. Hubbell’s dividend payout ratio is 57.69%.

Hubbell Company Profile (Get Rating)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies for the natural gas distribution market.

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Earnings History and Estimates for Hubbell (NYSE:HUBB)

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