Hub Group (NASDAQ:HUBG) Updates FY24 Earnings Guidance

Hub Group (NASDAQ:HUBG) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Hub Group Price Performance

Shares of HUBG traded down $3.67 during mid-day trading on Friday, hitting $42.53. 877,011 shares of the company traded hands, compared to its average volume of 421,356. Hub Group has a one year low of $31.73 and a one year high of $48.39. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $43.67 and a 200 day moving average of $43.14. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 20.20 and a beta of 0.89.

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 the consensus estimate of $0.47. Hub Group had a net margin of 2.89% and a return on equity of 7.38%. The business had revenue of $986.50 million for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $0.72 earnings per share. Hub Group’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts expect that Hub Group will post 2.02 earnings per share for the current fiscal year.

Hub Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

HUBG has been the subject of several research reports. Evercore ISI reissued an in-line rating and set a $44.00 price objective on shares of Hub Group in a research report on Tuesday, June 25th. JPMorgan Chase & Co. increased their price objective on shares of Hub Group from $43.00 to $51.00 and gave the stock a neutral rating in a research report on Friday. Stephens lowered their price objective on shares of Hub Group from $44.00 to $42.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Benchmark reissued a buy rating and set a $49.00 price objective on shares of Hub Group in a research report on Tuesday, July 9th. Finally, Susquehanna decreased their target price on shares of Hub Group from $45.00 to $44.00 and set a neutral rating for the company in a research report on Friday. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $46.04.

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.