Hawaiian Electric Industries (NYSE:HE) Issues Earnings Results, Misses Estimates By $0.05 EPS

Hawaiian Electric Industries (NYSE:HE) announced its quarterly earnings results on Friday. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05), Briefing.com reports. The company had revenue of $792.30 million during the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The business’s revenue for the quarter was down .2% compared to the same quarter last year.

Hawaiian Electric Industries Price Performance

Shares of HE stock traded down $0.48 during midday trading on Friday, reaching $15.50. 2,191,231 shares of the company traded hands, compared to its average volume of 3,101,570. The firm’s 50 day simple moving average is $11.89 and its two-hundred day simple moving average is $11.65. The firm has a market cap of $1.71 billion, a PE ratio of 9.17 and a beta of 0.57. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.11 and a quick ratio of 0.11. Hawaiian Electric Industries has a 1-year low of $7.61 and a 1-year high of $35.57.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Monday, May 13th. Finally, Evercore ISI lifted their target price on shares of Hawaiian Electric Industries from $11.00 to $16.00 and gave the company an “in-line” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.88.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.