Mizuho Cuts Hubbell Price Target by 8% After Q4 Results

  • Mizuho analyst Brett Linzey lowered the price target on Hubbell Inc HUBB to $220 (an upside of 17.5%) from $240 and maintained a Buy rating on the shares.
  • The analyst dropped the price target to reflect the broader valuation reset of the group and equity market. However, the analyst says Hubbell reported a "strong" Q4 and outlook.
  • Recently, the company reported its fourth-quarter net sales growth of 19.9% year–over–year to $1.1 billion, missing the consensus of $1.22 billion.
  • The operating income increased by 17.2% Y/Y to $134.3 million, and margin contracted 30 bps to 12.2%
  • Adjusted EPS was $2.07, missing the consensus of $2.08.
  • Net cash provided from operating activities was $233 million for Q4, versus $156 million in the comparable period of 2020. Free cash flow was $206 million.
  • FY22 Outlook: The company expects EPS from continuing operations of $7.75-$8.25; and adjusted EPS of $8.75-$9.25 versus $9.18 consensus.
  • Price Action: HUBB shares are higher by 0.31% at $187.27 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: Analyst ColorEarningsNewsGuidancePrice TargetReiterationAnalyst RatingsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!