Black Hills (NYSE:BKH) Updates FY24 Earnings Guidance

Black Hills (NYSE:BKHGet Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.80-$4.00 for the period, compared to the consensus EPS estimate of $3.92. Black Hills also updated its FY 2024 guidance to 3.800-4.000 EPS.

Black Hills Price Performance

BKH stock traded up $1.21 during mid-day trading on Friday, reaching $60.78. 456,582 shares of the company traded hands, compared to its average volume of 471,177. The company has a fifty day moving average price of $60.19 and a 200-day moving average price of $57.47. Black Hills has a 52-week low of $48.27 and a 52-week high of $62.20. The company has a market capitalization of $4.24 billion, a P/E ratio of 15.05, a P/E/G ratio of 4.16 and a beta of 0.69. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94.

Black Hills (NYSE:BKHGet Free Report) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The firm had revenue of $401.60 million for the quarter. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. As a group, analysts anticipate that Black Hills will post 3.91 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.28%. Black Hills’s payout ratio is currently 64.36%.

Analyst Ratings Changes

A number of research firms have commented on BKH. Wells Fargo & Company boosted their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank upped their target price on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $58.00.

Check Out Our Latest Analysis on Black Hills

About Black Hills

(Get Free Report)

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.

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