Hawaiian Electric Industries (NYSE:HE) posted its quarterly earnings results on Thursday. The utilities provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.10, Briefing.com reports. Hawaiian Electric Industries had a return on equity of 9.23% and a net margin of 6.98%. The firm had revenue of $725.97 million for the quarter, compared to the consensus estimate of $758.90 million. During the same period in the previous year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year.
Hawaiian Electric Industries stock opened at $49.74 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.08 and a quick ratio of 0.08. Hawaiian Electric Industries has a 1-year low of $37.35 and a 1-year high of $49.90. The company has a market cap of $5.30 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 6.04 and a beta of 0.25. The stock’s 50 day moving average price is $47.42 and its 200 day moving average price is $45.33.
A number of research firms recently weighed in on HE. Guggenheim began coverage on Hawaiian Electric Industries in a research note on Tuesday, January 7th. They issued a “neutral” rating and a $44.00 price target on the stock. Wells Fargo & Co downgraded Hawaiian Electric Industries from an “equal weight” rating to an “underweight” rating and set a $43.00 price target on the stock. in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $41.80.
Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.
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