Hawaiian Electric Industries (NYSE:HE) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

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

Hawaiian Electric Industries Price Performance

Shares of HE stock traded down $0.48 during trading hours on Friday, hitting $15.50. 2,191,231 shares of the company’s stock were exchanged, compared to its average volume of 3,101,570. The company has a market capitalization of $1.71 billion, a PE ratio of 9.17 and a beta of 0.57. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $35.57. The business’s 50 day simple moving average is $11.89 and its 200-day simple moving average is $11.65.

Wall Street Analysts Forecast Growth

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

About Hawaiian Electric Industries

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.