Hawaiian Electric Industries (NYSE:HE) Releases Earnings Results, Misses Expectations 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 (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07), Briefing.com reports. The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share.

Hawaiian Electric Industries Stock Performance

HE stock traded up $0.06 during trading on Friday, reaching $10.64. 4,202,736 shares of the stock were exchanged, compared to its average volume of 2,929,057. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19. 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 company has a market capitalization of $1.17 billion, a P/E ratio of -1.01 and a beta of 0.53. The stock has a 50 day simple moving average of $10.44 and a 200-day simple moving average of $11.15.

Wall Street Analyst Weigh In

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

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.