Oppenheimer Weighs in on Hubbell Incorporated’s Q2 2018 Earnings (HUBB)
Hubbell Incorporated (NYSE:HUBB) – Oppenheimer dropped their Q2 2018 earnings estimates for Hubbell in a report released on Tuesday, April 24th. Oppenheimer analyst C. Glynn now anticipates that the industrial products company will post earnings per share of $1.82 for the quarter, down from their prior estimate of $1.89. Oppenheimer currently has a “Outperform” rating and a $140.00 price objective on the stock. Oppenheimer also issued estimates for Hubbell’s Q4 2018 earnings at $1.79 EPS, FY2018 earnings at $7.10 EPS and FY2019 earnings at $7.80 EPS.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.03. Hubbell had a return on equity of 20.40% and a net margin of 6.27%. The firm had revenue of $991.20 million for the quarter, compared to analysts’ expectations of $975.95 million. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year.
Shares of NYSE:HUBB opened at $104.78 on Friday. Hubbell has a 12-month low of $103.89 and a 12-month high of $149.03. The stock has a market cap of $5,915.84, a PE ratio of 17.67, a P/E/G ratio of 1.51 and a beta of 1.03. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 1.13.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in shares of Hubbell by 0.3% in the fourth quarter. American Century Companies Inc. now owns 1,776,319 shares of the industrial products company’s stock worth $240,407,000 after purchasing an additional 5,685 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Hubbell by 21.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,531,331 shares of the industrial products company’s stock worth $207,251,000 after purchasing an additional 272,407 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Hubbell by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,093,990 shares of the industrial products company’s stock worth $148,061,000 after purchasing an additional 87,787 shares during the last quarter. Boston Partners grew its stake in shares of Hubbell by 3.8% in the fourth quarter. Boston Partners now owns 584,312 shares of the industrial products company’s stock worth $79,081,000 after purchasing an additional 21,591 shares during the last quarter. Finally, BTIM Corp. grew its stake in shares of Hubbell by 0.8% in the fourth quarter. BTIM Corp. now owns 503,745 shares of the industrial products company’s stock worth $68,177,000 after purchasing an additional 4,056 shares during the last quarter. 85.62% of the stock is currently owned by institutional investors.
In related news, VP Stephen M. Mais sold 4,692 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $135.59, for a total value of $636,188.28. Following the sale, the vice president now directly owns 16,669 shares of the company’s stock, valued at $2,260,149.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David G. Nord sold 12,076 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total value of $1,615,285.76. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a $0.77 dividend. The ex-dividend date is Wednesday, May 30th. This represents a $3.08 annualized dividend and a dividend yield of 2.94%. Hubbell’s payout ratio is presently 51.94%.
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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