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

Hub Group (NASDAQ:HUBG) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.750-2.050 for the period, compared to the consensus earnings per share estimate of 1.960. The company issued revenue guidance of $4.0 billion-$4.3 billion, compared to the consensus revenue estimate of $4.4 billion. Hub Group also updated its FY24 guidance to $1.75-2.05 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark reissued a buy rating and set a $49.00 price target on shares of Hub Group in a research report on Tuesday, July 9th. TD Cowen cut Hub Group from a buy rating to a hold rating and decreased their price objective for the stock from $50.00 to $43.00 in a research note on Thursday, July 18th. Stephens decreased their price objective on Hub Group from $44.00 to $42.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Evercore ISI restated an in-line rating and set a $44.00 price objective on shares of Hub Group in a research note on Tuesday, June 25th. Finally, BMO Capital Markets decreased their price objective on Hub Group from $48.00 to $45.00 and set a market perform rating for the company in a research note on Friday, April 26th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Hub Group has a consensus rating of Hold and a consensus target price of $46.04.

Hub Group Stock Down 7.9 %

Hub Group stock traded down $3.67 during midday trading on Friday, reaching $42.53. The company’s stock had a trading volume of 877,011 shares, compared to its average volume of 421,356. The stock’s 50-day simple moving average is $43.67 and its 200-day simple moving average is $43.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $2.65 billion, a P/E ratio of 20.20 and a beta of 0.89. Hub Group has a 52-week low of $31.73 and a 52-week high of $48.39.

Hub Group (NASDAQ:HUBG) last announced its quarterly earnings data on Thursday, August 1st. The transportation company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $986.50 million for the quarter, compared to analyst estimates of $1.09 billion. Hub Group had a return on equity of 7.38% and a net margin of 2.89%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. On average, sell-side analysts expect that Hub Group will post 2.02 EPS for the current year.

Hub Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, June 7th. Hub Group’s dividend payout ratio is presently 23.75%.

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.