Hub Group (NASDAQ:HUBG) Updates FY24 Earnings Guidance

Hub Group (NASDAQ:HUBG) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $1.85-1.95 for the period, compared to the consensus EPS estimate of $1.89. The company issued revenue guidance of approx $4.00 billion, compared to the consensus revenue estimate of $4.11 billion.

Hub Group Stock Up 0.6 %

HUBG traded up $0.26 during trading hours on Wednesday, hitting $43.75. 439,318 shares of the company’s stock were exchanged, compared to its average volume of 445,099. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. Hub Group has a 1-year low of $33.38 and a 1-year high of $48.39. The stock’s 50-day moving average is $44.31 and its two-hundred day moving average is $43.42. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 20.71 and a beta of 0.88.

Hub Group (NASDAQ:HUBG) last issued its quarterly earnings results on Thursday, August 1st. The transportation company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Hub Group had a return on equity of 7.37% and a net margin of 2.89%. The firm had revenue of $986.50 million during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. Sell-side analysts predict that Hub Group will post 1.92 earnings per share for the current fiscal year.

Hub Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, September 6th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.14%. Hub Group’s payout ratio is 23.81%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HUBG. Evercore ISI lifted their target price on Hub Group from $41.00 to $43.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. UBS Group lifted their target price on shares of Hub Group from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Stifel Nicolaus cut their price objective on shares of Hub Group from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on Hub Group from $43.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Susquehanna lifted their price target on Hub Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.00.

About Hub Group

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.