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Hubbell (HUBB) Outpaces Stock Market Gains: What You Should Know
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Hubbell (HUBB - Free Report) closed at $240.01 in the latest trading session, marking a +1.48% move from the prior day. This change outpaced the S&P 500's 1.42% gain on the day. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 5.16%.
Coming into today, shares of the electrical products manufacturer had lost 5.98% in the past month. In that same time, the Industrial Products sector lost 4.45%, while the S&P 500 gained 0.27%.
Hubbell will be looking to display strength as it nears its next earnings release. On that day, Hubbell is projected to report earnings of $2.46 per share, which would represent year-over-year growth of 16.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, up 7.72% from the year-ago period.
HUBB's full-year Zacks Consensus Estimates are calling for earnings of $11.27 per share and revenue of $5.24 billion. These results would represent year-over-year changes of +6.12% and +5.83%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. Hubbell is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Hubbell is holding a Forward P/E ratio of 20.98. This represents a no noticeable deviation compared to its industry's average Forward P/E of 20.98.
It is also worth noting that HUBB currently has a PEG ratio of 2.1. 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. Manufacturing - Electrical Utilities stocks are, on average, holding a PEG ratio of 2.1 based on yesterday's closing prices.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
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) Outpaces Stock Market Gains: What You Should Know
Hubbell (HUBB - Free Report) closed at $240.01 in the latest trading session, marking a +1.48% move from the prior day. This change outpaced the S&P 500's 1.42% gain on the day. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 5.16%.
Coming into today, shares of the electrical products manufacturer had lost 5.98% in the past month. In that same time, the Industrial Products sector lost 4.45%, while the S&P 500 gained 0.27%.
Hubbell will be looking to display strength as it nears its next earnings release. On that day, Hubbell is projected to report earnings of $2.46 per share, which would represent year-over-year growth of 16.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, up 7.72% from the year-ago period.
HUBB's full-year Zacks Consensus Estimates are calling for earnings of $11.27 per share and revenue of $5.24 billion. These results would represent year-over-year changes of +6.12% and +5.83%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. Hubbell is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Hubbell is holding a Forward P/E ratio of 20.98. This represents a no noticeable deviation compared to its industry's average Forward P/E of 20.98.
It is also worth noting that HUBB currently has a PEG ratio of 2.1. 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. Manufacturing - Electrical Utilities stocks are, on average, holding a PEG ratio of 2.1 based on yesterday's closing prices.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.