Black Hills (NYSE:BKH) Releases FY 2024 Earnings Guidance

Black Hills (NYSE:BKH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.800-4.000 for the period, compared to the consensus earnings per share estimate of 3.920. The company issued revenue guidance of -. Black Hills also updated its FY24 guidance to $3.80-$4.00 EPS.

Black Hills Price Performance

BKH stock traded up $1.56 during midday trading on Wednesday, reaching $60.37. 939,573 shares of the company’s stock traded hands, compared to its average volume of 469,250. The company has a 50-day simple moving average of $60.10 and a two-hundred day simple moving average of $57.39. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. Black Hills has a 1-year low of $48.27 and a 1-year high of $62.20. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 4.18 and a beta of 0.69.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s payout ratio is presently 64.36%.

Wall Street Analyst Weigh In

Several analysts have recently commented on BKH shares. Scotiabank increased their price target on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, Black Hills presently has a consensus rating of “Hold” and a consensus price target of $58.00.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.