Hubbell shares fall after FY forecast below estimate, downbeat Q3 results

Hubbell

31/10/2023 18:37

(Updates)
    ** Shares of utility and electrical solutions manufacturer
Hubbell  HUBB.N  fall 6% to $266.5
    ** Hubbell is one of the bottom performing stocks of S&P 500
 .SPX  on Tuesday
    ** Shares fall below 200-day simple moving average after the
results, which indicates a bearish momentum
    ** Co forecasts FY adj. EPS in range $15.00-$15.25 vs
analysts' estimate of $15.27 per share  urn:newsml:reuters.com:*:nGNX6YjKKX
    ** Hubbell's Q3 sales of $1.38 bln and adj EPS of $3.95 miss
analysts' estimate of $1.39 bln and $4.05, respectively - LSEG 
    ** Shares up 13.5% YTD

 (Reporting by Vedant Vinayak Vichare in Bengaluru)
 ((vedant.vinayakvichare@thomsonreuters.com))