Hydro One (OTCMKTS:HRNNF) Announces Quarterly Earnings Results

Hydro One (OTCMKTS:HRNNF) announced its quarterly earnings results on Wednesday. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05, Zacks reports. Hydro One had a net margin of 14.80% and a return on equity of 10.83%.

Hydro One Stock Performance

HRNNF traded up $0.56 during trading on Wednesday, hitting $40.84. The company’s stock had a trading volume of 275 shares, compared to its average volume of 90,582. The business’s 50 day simple moving average is $41.10 and its 200-day simple moving average is $41.61. The firm has a market cap of $24.51 billion and a PE ratio of 32.42. Hydro One has a one year low of $35.12 and a one year high of $44.02. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.40.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HRNNF shares. BMO Capital Markets restated a “market perform” rating on shares of Hydro One in a report on Thursday, May 14th. Scotiabank restated a “sector perform” rating on shares of Hydro One in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Hydro One in a research report on Monday, April 20th. TD Securities reissued a “hold” rating on shares of Hydro One in a report on Thursday, May 14th. Finally, Jefferies Financial Group downgraded Hydro One from a “hold” rating to an “underperform” rating in a research note on Monday, June 1st. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Hydro One Company Profile

Hydro One Ltd. is a Canadian electricity transmission and distribution utility headquartered in Toronto, Ontario. The company operates the largest high-voltage transmission network in the province, delivering power from generating stations to local distributors, municipalities and major industrial customers. In addition to its transmission business, Hydro One provides distribution services to a wide range of residential, commercial and industrial end users, maintaining poles, wires and related infrastructure that connect approximately 1.4 million customers across urban and rural communities.

Tracing its origins to the Ontario Hydro Electric Power Commission established in 1906, Hydro One emerged in its current form following the restructuring of Ontario’s vertically integrated power authority in the late 1990s and early 2000s.