Mizuho Securities analyst Brett Linzey maintains $Hubbell (HUBB.US)$ with a buy rating.
According to TipRanks data, the analyst has a success rate of 72.9% and a total average return of 13.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Hubbell (HUBB.US)$'s main analysts recently are as follows:
Hubbell did not meet expectations for organic growth in Q3 and its Q4 guidance was approximately 350 basis points below the consensus if storm-related benefits are excluded. Nevertheless, the prevailing optimism regarding the Utility segment's outlook over the next year is enabling the market to overlook these organic growth shortfalls and an ongoing destocking phase. There is also a shared positive outlook on Utility improvement in the coming year, yet there is some concern regarding Hubbell Utility's volume growth, which has been at a 2% compound annual growth rate since 2020, despite the wide range of industry tailwinds.
Hubbell has been showing commendable performance in terms of margins, and the concerns regarding a potential margin concession appear to be unwarranted.
The company's third-quarter organic performance was deemed 'relatively well' in light of the current environment, which has not been forgiving towards revenue shortfalls. This resilience can be ascribed to the company's advantageous thematic exposure, with expectations of growth acceleration once the headwinds from telecom and destocking diminish. It was mentioned that the adjusted earnings per share estimates for 2024 and 2025 have been raised.
Note:
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