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Hubbell (HUBB) Stock Sinks As Market Gains: What You Should Know
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Hubbell (HUBB - Free Report) closed the most recent trading day at $234.61, moving -0.92% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Coming into today, shares of the electrical products manufacturer had lost 4.85% in the past month. In that same time, the Industrial Products sector gained 4.51%, while the S&P 500 gained 1%.
Hubbell will be looking to display strength as it nears its next earnings release. In that report, analysts expect Hubbell to post earnings of $2.41 per share. This would mark 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.
It is also important to note the recent changes to analyst estimates for Hubbell. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 currently has a Zacks Rank of #3 (Hold).
Investors should also note Hubbell's current valuation metrics, including its Forward P/E ratio of 21.3. For comparison, its industry has an average Forward P/E of 21.3, which means Hubbell is trading at a no noticeable deviation to the group.
Investors should also note that HUBB has a PEG ratio of 2.13 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HUBB's industry had an average PEG ratio of 2.13 as of yesterday's close.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hubbell (HUBB) Stock Sinks As Market Gains: What You Should Know
Hubbell (HUBB - Free Report) closed the most recent trading day at $234.61, moving -0.92% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Coming into today, shares of the electrical products manufacturer had lost 4.85% in the past month. In that same time, the Industrial Products sector gained 4.51%, while the S&P 500 gained 1%.
Hubbell will be looking to display strength as it nears its next earnings release. In that report, analysts expect Hubbell to post earnings of $2.41 per share. This would mark 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.
It is also important to note the recent changes to analyst estimates for Hubbell. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 currently has a Zacks Rank of #3 (Hold).
Investors should also note Hubbell's current valuation metrics, including its Forward P/E ratio of 21.3. For comparison, its industry has an average Forward P/E of 21.3, which means Hubbell is trading at a no noticeable deviation to the group.
Investors should also note that HUBB has a PEG ratio of 2.13 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HUBB's industry had an average PEG ratio of 2.13 as of yesterday's close.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.