Wall Street brokerages expect that Black Hills Corp (NYSE:BKH) will report $1.53 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Black Hills’ earnings. Black Hills posted earnings of $1.41 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.5%. The business is scheduled to announce its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Black Hills will report full year earnings of $3.43 per share for the current year, with EPS estimates ranging from $3.39 to $3.45. For the next financial year, analysts expect that the firm will post earnings of $3.50 per share, with EPS estimates ranging from $3.42 to $3.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Black Hills.
Black Hills (NYSE:BKH) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported $0.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.09). The company had revenue of $455.30 million during the quarter, compared to analyst estimates of $504.05 million. Black Hills had a net margin of 10.83% and a return on equity of 10.14%.
Several research firms have weighed in on BKH. JPMorgan Chase & Co. lowered shares of Black Hills from an “overweight” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research note on Wednesday. Williams Capital upgraded Black Hills from a “hold” rating to a “buy” rating and lowered their target price for the stock from $70.00 to $62.00 in a research note on Wednesday, January 10th. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research note on Monday, November 13th. Wells Fargo & Co began coverage on Black Hills in a research note on Friday, October 27th. They set a “market perform” rating and a $58.00 target price on the stock. Finally, Royal Bank of Canada lowered their target price on Black Hills from $72.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.50.
A number of hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new position in shares of Black Hills during the second quarter worth about $61,993,000. Strs Ohio lifted its position in Black Hills by 48.2% in the 4th quarter. Strs Ohio now owns 452,400 shares of the utilities provider’s stock worth $27,193,000 after buying an additional 147,100 shares during the last quarter. Hennessy Advisors Inc. lifted its position in Black Hills by 165.4% in the 3rd quarter. Hennessy Advisors Inc. now owns 215,947 shares of the utilities provider’s stock worth $14,872,000 after buying an additional 134,588 shares during the last quarter. Rothschild Asset Management Inc. lifted its position in Black Hills by 18.8% in the 3rd quarter. Rothschild Asset Management Inc. now owns 517,539 shares of the utilities provider’s stock worth $35,643,000 after buying an additional 81,825 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in Black Hills by 7.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,044,103 shares of the utilities provider’s stock worth $71,907,000 after buying an additional 69,921 shares during the last quarter. 93.81% of the stock is owned by institutional investors and hedge funds.
Black Hills (NYSE BKH) traded up $0.65 during trading on Wednesday, reaching $52.40. 774,568 shares of the company’s stock traded hands, compared to its average volume of 1,039,289. The firm has a market cap of $2,803.13, a price-to-earnings ratio of 15.69, a PEG ratio of 3.24 and a beta of 0.55. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.73. Black Hills has a 1 year low of $50.98 and a 1 year high of $72.02.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Wednesday, February 14th. Black Hills’s payout ratio is presently 56.89%.
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About Black Hills
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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