Hub Group (NASDAQ:HUBG) Updates FY 2024 Earnings Guidance

Hub Group (NASDAQ:HUBG) updated its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.850-1.950 for the period, compared to the consensus estimate of 1.920. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.1 billion. Hub Group also updated its FY24 guidance to $1.85-1.95 EPS.

Hub Group Price Performance

HUBG stock traded down $0.14 during midday trading on Friday, reaching $43.25. 491,369 shares of the stock were exchanged, compared to its average volume of 447,019. The company has a fifty day moving average price of $44.32 and a 200 day moving average price of $43.44. The stock has a market capitalization of $2.69 billion, a PE ratio of 24.57 and a beta of 0.88. Hub Group has a 52 week low of $33.38 and a 52 week high of $48.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.32 and a quick ratio of 1.32.

Hub Group (NASDAQ:HUBG) last released its quarterly earnings data on Wednesday, October 30th. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $986.89 million for the quarter, compared to analysts’ expectations of $1.06 billion. Hub Group had a net margin of 2.74% and a return on equity of 7.43%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, analysts expect that Hub Group will post 1.92 EPS for the current fiscal year.

Hub Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, September 6th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, September 6th. Hub Group’s dividend payout ratio is presently 28.41%.

Analyst Ratings Changes

Several analysts have issued reports on HUBG shares. UBS Group boosted their target price on Hub Group from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Barclays lifted their price objective on shares of Hub Group from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI increased their target price on Hub Group from $41.00 to $43.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Stifel Nicolaus cut their price objective on Hub Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, TD Cowen boosted their target price on Hub Group from $43.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.00.

Hub Group Company Profile

Hub Group, Inc, a supply chain solutions provider, offers transportation and logistics management services in North America. The company's transportation services include intermodal, truckload, less-than-truckload, flatbed, temperature-controlled, and dedicated and regional trucking, as well as final mile, railcar, small parcel, and international transportation.