Hub Group (NASDAQ:HUBG) Releases FY24 Earnings Guidance

Hub Group (NASDAQ:HUBG) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.80-$2.25 for the period, compared to the consensus EPS estimate of $2.11. The company issued revenue guidance of $4.3-$4.7 billion, compared to the consensus revenue estimate of $4.58 billion. Hub Group also updated its FY 2024 guidance to 1.800-2.250 EPS.

Hub Group Trading Down 0.6 %

Hub Group stock traded down $0.26 during mid-day trading on Friday, hitting $39.93. The stock had a trading volume of 569,414 shares, compared to its average volume of 372,603. The stock has a 50-day simple moving average of $41.88 and a two-hundred day simple moving average of $41.59. The stock has a market capitalization of $2.51 billion, a PE ratio of 18.97 and a beta of 0.89. Hub Group has a 12 month low of $31.73 and a 12 month high of $47.58. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.15.

Hub Group (NASDAQ:HUBG) last posted its quarterly earnings results on Thursday, April 25th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. The business had revenue of $1,000.00 million for the quarter, compared to analysts’ expectations of $1.05 billion. Hub Group had a return on equity of 8.47% and a net margin of 3.28%. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. As a group, sell-side analysts forecast that Hub Group will post 2.19 EPS for the current year.

Hub Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, March 7th. Hub Group’s dividend payout ratio is 23.75%.

Analyst Ratings Changes

A number of equities analysts have issued reports on HUBG shares. BMO Capital Markets reduced their target price on Hub Group from $48.00 to $45.00 and set a market perform rating on the stock in a report on Friday. TD Cowen raised their target price on Hub Group from $52.00 to $54.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Morgan Stanley raised their target price on Hub Group from $43.00 to $44.00 and gave the stock an equal weight rating in a report on Monday, February 12th. JPMorgan Chase & Co. raised their target price on Hub Group from $43.50 to $46.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. Finally, Stephens reduced their target price on Hub Group from $44.00 to $42.00 and set an equal weight rating on the stock in a report on Friday. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Hub Group has a consensus rating of Hold and an average price target of $46.54.

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.