Hawaiian Electric Industries (NYSE:HE) Posts Earnings Results, Misses Estimates By $0.07 EPS

Hawaiian Electric Industries (NYSE:HE) posted its quarterly earnings data 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 positive return on equity of 10.69% and a negative net margin of 31.76%. The company had revenue of $983.38 million for the quarter. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis.

Hawaiian Electric Industries Trading Up 0.6 %

Shares of Hawaiian Electric Industries stock traded up $0.06 during mid-day trading on Friday, hitting $10.64. 4,202,736 shares of the stock were exchanged, compared to its average volume of 2,929,057. The company has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $11.15. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -1.01 and a beta of 0.53. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HE. Wells Fargo & Company decreased their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th. Evercore ISI lowered their target price on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 24th. Finally, StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th.

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.