In a report released yesterday, Christopher Glynn from Oppenheimer maintained a Hold rating on Hubbell B (HUBB). The company’s shares closed yesterday at $113.92.
Glynn noted:
“Organic growth remained steady at 5% in 4Q18 for the third straight quarter. Consistent with HUBB’s more comprehensive exclusion of amortization from adjusted EPS, we recast 2018 adjusted EPS to $7.77 from $7.29 (4Q18 reflects $1.84, vs. $1.72; $1.72 is the basis of prior guidance/modeling and in our discussion below). Guidance reflects 3% midpoint 2019E adj. EPS growth, reflecting expectation of flattish margins and higher tax rate (23.5% midpoint vs. 21.8% renders $0.15-0.20 headwind). The OM outlook reflects lower Electrical OM from higher restructuring (especially 2Q) and price/cost drag, with Power up. Price/materials should be flat to slightly favorable in 1H to OP/dilutive to OM; improving in 2H, but other inflation vs. productivity remains a challenge.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 6.9% and a 59.7% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Honeywell International, Roper Technologies, and Eaton Corporation.
Hubbell B has an analyst consensus of Moderate Buy, with a price target consensus of $124.50.
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Based on Hubbell B’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $113 million. In comparison, last year the company had a net profit of $20.3 million.
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Hubbell, Inc. engages in designing, manufacturing and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates though the Electrical and Power segments.
