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Hubbell (HUBB) Gains But Lags Market: What You Should Know
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In the latest trading session, Hubbell (HUBB - Free Report) closed at $224.73, marking a +0.53% move from the previous day. This change lagged the S&P 500's 1.89% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 10%.
Coming into today, shares of the electrical products manufacturer had lost 4.77% in the past month. In that same time, the Industrial Products sector gained 2.7%, while the S&P 500 gained 2.3%.
Investors will be hoping for strength from Hubbell as it approaches its next earnings release, which is expected to be January 31, 2023. 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.
It is also important to note the recent changes to analyst estimates for Hubbell. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Hubbell is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 20.11. For comparison, its industry has an average Forward P/E of 20.11, which means Hubbell is trading at a no noticeable deviation to the group.
Meanwhile, HUBB's PEG ratio is currently 2.01. 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. The Manufacturing - Electrical Utilities industry currently had an average PEG ratio of 2.01 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 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Hubbell (HUBB) Gains But Lags Market: What You Should Know
In the latest trading session, Hubbell (HUBB - Free Report) closed at $224.73, marking a +0.53% move from the previous day. This change lagged the S&P 500's 1.89% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 10%.
Coming into today, shares of the electrical products manufacturer had lost 4.77% in the past month. In that same time, the Industrial Products sector gained 2.7%, while the S&P 500 gained 2.3%.
Investors will be hoping for strength from Hubbell as it approaches its next earnings release, which is expected to be January 31, 2023. 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.
It is also important to note the recent changes to analyst estimates for Hubbell. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Hubbell is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 20.11. For comparison, its industry has an average Forward P/E of 20.11, which means Hubbell is trading at a no noticeable deviation to the group.
Meanwhile, HUBB's PEG ratio is currently 2.01. 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. The Manufacturing - Electrical Utilities industry currently had an average PEG ratio of 2.01 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 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.