Q1 2019 EPS Estimates for Hubbell Incorporated (HUBB) Lifted by Oppenheimer
Hubbell Incorporated (NYSE:HUBB) – Analysts at Oppenheimer raised their Q1 2019 earnings per share (EPS) estimates for Hubbell in a research note issued to investors on Tuesday, February 5th. Oppenheimer analyst C. Glynn now forecasts that the industrial products company will post earnings per share of $1.51 for the quarter, up from their prior estimate of $1.42. Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Hubbell’s Q2 2019 earnings at $2.06 EPS, Q3 2019 earnings at $2.33 EPS, Q4 2019 earnings at $2.14 EPS and FY2020 earnings at $8.70 EPS.
HUBB has been the subject of several other research reports. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Morgan Stanley set a $131.00 price objective on shares of Hubbell and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, ValuEngine raised shares of Hubbell from a “sell” rating to a “hold” rating in a report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $134.17.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.03. Hubbell had a return on equity of 23.08% and a net margin of 8.04%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $1.54 EPS. Hubbell’s revenue for the quarter was up 24.7% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Wednesday, February 27th. Hubbell’s payout ratio is 46.09%.
Several large investors have recently made changes to their positions in HUBB. FMR LLC lifted its holdings in shares of Hubbell by 25.5% in the 2nd quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock valued at $175,788,000 after acquiring an additional 337,915 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Hubbell by 134.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,301 shares of the industrial products company’s stock valued at $1,089,000 after acquiring an additional 5,900 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Hubbell by 18.5% in the 2nd quarter. Schroder Investment Management Group now owns 485,900 shares of the industrial products company’s stock valued at $51,495,000 after acquiring an additional 75,700 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hubbell by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 784,889 shares of the industrial products company’s stock valued at $82,995,000 after acquiring an additional 3,184 shares during the last quarter. Finally, Cerebellum GP LLC bought a new position in shares of Hubbell in the 3rd quarter valued at about $183,000. 86.68% of the stock is owned by hedge funds and other institutional investors.
Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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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