Hawaiian Electric Industries (NYSE:HE) Announces Quarterly Earnings Results

Hawaiian Electric Industries (NYSE:HE) issued its earnings results on Friday. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07), Briefing.com reports. Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The firm had revenue of $983.38 million for the quarter. During the same period in the previous year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year.

Hawaiian Electric Industries Stock Performance

Shares of HE stock traded up $0.06 during mid-day trading on Friday, reaching $10.64. The stock had a trading volume of 4,202,736 shares, compared to its average volume of 2,929,057. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. Hawaiian Electric Industries has a 1-year low of $7.61 and a 1-year high of $18.19. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -1.01 and a beta of 0.53. The business’s fifty day moving average is $10.44 and its 200-day moving average is $11.15.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Finally, Evercore ISI dropped their price objective on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th.

About Hawaiian Electric Industries

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.