Hub Group (NASDAQ:HUBG) Updates FY24 Earnings Guidance

Hub Group (NASDAQ:HUBG) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.75-2.05 for the period, compared to the consensus earnings per share estimate of $1.96. The company issued revenue guidance of $4.00-4.30 billion, compared to the consensus revenue estimate of $4.36 billion. Hub Group also updated its FY 2024 guidance to 1.750-2.050 EPS.

Wall Street Analyst Weigh In

Several analysts have weighed in on HUBG shares. JPMorgan Chase & Co. raised their price target on Hub Group from $43.00 to $51.00 and gave the company a neutral rating in a report on Friday. BMO Capital Markets dropped their target price on shares of Hub Group from $48.00 to $45.00 and set a market perform rating for the company in a research report on Friday, April 26th. TD Cowen cut shares of Hub Group from a buy rating to a hold rating and cut their price target for the stock from $50.00 to $43.00 in a research note on Thursday, July 18th. Stephens lowered their price objective on shares of Hub Group from $44.00 to $42.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Finally, Susquehanna dropped their price target on Hub Group from $45.00 to $44.00 and set a neutral rating for the company in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $46.04.

Hub Group Stock Performance

NASDAQ HUBG traded down $3.67 during trading hours on Friday, hitting $42.53. The company’s stock had a trading volume of 877,011 shares, compared to its average volume of 421,356. Hub Group has a 12 month low of $31.73 and a 12 month high of $48.39. The company’s 50 day simple moving average is $43.67 and its two-hundred 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 company has a market cap of $2.65 billion, a P/E ratio of 20.20 and a beta of 0.89.

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

Hub Group Dividend Announcement

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

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.