Hawaiian Electric Industries (NYSE:HE) Releases Earnings Results, Misses Estimates By $0.19 EPS

Hawaiian Electric Industries (NYSE:HE) released its quarterly earnings results on Friday. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19), Zacks reports. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE traded down $0.21 during mid-day trading on Friday, reaching $10.77. The company’s stock had a trading volume of 2,835,365 shares, compared to its average volume of 3,156,697. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The stock has a fifty day moving average of $9.55 and a two-hundred day moving average of $10.48. The firm has a market capitalization of $1.86 billion, a PE ratio of -0.91 and a beta of 0.53.

Analyst Ratings Changes

Several brokerages have issued reports on HE. Jefferies Financial Group dropped their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd. Barclays assumed coverage on shares of Hawaiian Electric Industries in a research report on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price objective for the company. Evercore ISI lowered their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. Finally, StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.

Hawaiian Electric Industries Company Profile

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.