Brokerages expect that Hawaiian Electric Industries, Inc. (NYSE:HE) will report earnings per share (EPS) of $0.36 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Hawaiian Electric Industries’ earnings. Hawaiian Electric Industries posted earnings per share of $0.31 during the same quarter last year, which would indicate a positive year over year growth rate of 16.1%. The company is expected to report its next quarterly earnings results on Friday, May 4th.
On average, analysts expect that Hawaiian Electric Industries will report full year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $1.97. For the next fiscal year, analysts forecast that the firm will report earnings of $1.95 per share, with EPS estimates ranging from $1.90 to $2.00. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Hawaiian Electric Industries.
Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Wednesday, February 14th. The utilities provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $658.60 million for the quarter, compared to analyst estimates of $547.89 million. Hawaiian Electric Industries had a return on equity of 8.71% and a net margin of 6.54%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share.
HE has been the topic of several research reports. Zacks Investment Research raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, November 28th. Bank of America initiated coverage on Hawaiian Electric Industries in a research note on Tuesday, October 24th. They set an “underperform” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Finally, UBS Group initiated coverage on Hawaiian Electric Industries in a research note on Friday, February 2nd. They set a “sell” rating and a $29.00 price target on the stock. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has a consensus rating of “Sell” and an average price target of $31.00.
Shares of Hawaiian Electric Industries (HE) traded up $0.50 on Friday, hitting $33.54. The stock had a trading volume of 230,684 shares, compared to its average volume of 544,503. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.77. Hawaiian Electric Industries has a twelve month low of $31.71 and a twelve month high of $38.72. The firm has a market capitalization of $3,666.09, a price-to-earnings ratio of 21.94, a PEG ratio of 3.52 and a beta of 0.37.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Thursday, February 22nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, February 21st. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 81.58%.
Institutional investors and hedge funds have recently modified their holdings of the company. First Dallas Securities Inc. acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at $152,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Hawaiian Electric Industries in the second quarter valued at about $201,000. Marshwinds Advisory Co. bought a new stake in Hawaiian Electric Industries in the fourth quarter valued at about $202,000. Pennsylvania Trust Co bought a new stake in Hawaiian Electric Industries in the fourth quarter valued at about $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hawaiian Electric Industries by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,907 shares of the utilities provider’s stock valued at $214,000 after purchasing an additional 2,048 shares during the last quarter. 49.19% of the stock is currently owned by institutional investors and hedge funds.
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Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).
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