Hubbell (NYSE:HUBB) Updates FY 2020 Pre-Market Earnings Guidance

Hubbell (NYSE:HUBB) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share guidance of 7.00-7.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.66. Hubbell also updated its FY20 guidance to $7.00-7.25 EPS.

Hubbell stock opened at $134.97 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.04 and a quick ratio of 1.28. The company has a market capitalization of $7.32 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.84 and a beta of 1.28. Hubbell has a one year low of $85.62 and a one year high of $155.00. The business has a 50 day simple moving average of $126.79 and a 200 day simple moving average of $127.81.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.27. The firm had revenue of $949.20 million during the quarter, compared to the consensus estimate of $1.03 billion. Hubbell had a return on equity of 21.79% and a net margin of 9.09%. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. Equities analysts anticipate that Hubbell will post 7.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.91 per share. The ex-dividend date is Friday, August 28th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.70%. Hubbell’s dividend payout ratio (DPR) is presently 44.83%.

A number of equities research analysts recently commented on HUBB shares. Morgan Stanley lifted their price objective on Hubbell from $132.00 to $145.00 and gave the stock an equal weight rating in a research note on Friday. Cfra reduced their target price on Hubbell from $163.00 to $146.00 and set a buy rating on the stock in a report on Thursday, April 30th. TheStreet upgraded Hubbell from a c+ rating to a b- rating in a report on Friday, April 24th. Wells Fargo & Co upped their target price on Hubbell from $137.00 to $140.00 and gave the stock an overweight rating in a report on Friday, May 1st. Finally, Zacks Investment Research upgraded Hubbell from a hold rating to a buy rating and set a $148.00 target price on the stock in a report on Friday, July 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $147.33.

About Hubbell

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.

Read More: Example of operating income, EBIT and EBITDA

Earnings History and Estimates for Hubbell (NYSE:HUBB)

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