In the latest trading session, Hubbell (HUBB) closed at $250.10, marking a -0.33% move from the previous day. This move was narrower than the S&P 500’s daily loss of 0.74%. Elsewhere, the Dow lost 0.9%, while the tech-heavy Nasdaq lost 0.03%.
Prior to today’s trading, shares of the electrical products manufacturer had lost 1.34% over the past month. This has lagged the Industrial Products sector’s gain of 3.58% and the S&P 500’s gain of 3.74% in that time.
Investors will be hoping for strength from Hubbell as it approaches its next earnings release. On that day, Hubbell is projected to report earnings of $2.41 per share, which would represent year-over-year growth of 16.43%. Meanwhile, our latest consensus estimate is calling for revenue of $1.25 billion, up 13.67% from the prior-year quarter.
HUBB’s full-year Zacks Consensus Estimates are calling for earnings of $10.41 per share and revenue of $4.98 billion. These results would represent year-over-year changes of +29.32% and +8.61%, respectively.
Any recent changes to analyst estimates for Hubbell should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Hubbell is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 24.1. This represents a no noticeable deviation compared to its industry’s average Forward P/E of 24.1.
It is also worth noting that HUBB currently has a PEG ratio of 2.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Manufacturing – Electrical Utilities industry currently had an average PEG ratio of 2.41 as of yesterday’s close.
The Manufacturing – Electrical Utilities industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 1, which puts it in the top 1% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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