Hubbell (NYSE:HUBB – Get Free Report) posted its quarterly earnings data on Tuesday. The industrial products company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.06, Briefing.com reports. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted $3.61 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Hubbell updated its FY24 guidance to $16.00-16.50 EPS and its FY 2024 guidance to 16.000-16.500 EPS.
Hubbell Stock Performance
HUBB stock traded up $6.95 during mid-day trading on Friday, hitting $379.89. The company had a trading volume of 433,447 shares, compared to its average volume of 430,020. The firm has a market cap of $20.37 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.66. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. The stock’s fifty day moving average price is $397.77 and its two-hundred day moving average price is $344.72.
Hubbell Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio is 36.39%.
Insiders Place Their Bets
Wall Street Analyst Weigh In
A number of brokerages have issued reports on HUBB. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective on the stock. Mizuho raised their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Wells Fargo & Company cut their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Barclays lowered their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $386.57.
Get Our Latest Research Report on Hubbell
About Hubbell
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. 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.
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