Zacks: Analysts Anticipate Hawaiian Electric Industries, Inc. (NYSE:HE) Will Announce Earnings of $0.42 Per Share

Analysts expect that Hawaiian Electric Industries, Inc. (NYSE:HEGet Rating) will post earnings of $0.42 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Hawaiian Electric Industries’ earnings. Hawaiian Electric Industries reported earnings of $0.59 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 28.8%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Hawaiian Electric Industries will report full-year earnings of $2.16 per share for the current financial year. For the next fiscal year, analysts expect that the company will post earnings of $2.29 per share. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Hawaiian Electric Industries.

Hawaiian Electric Industries (NYSE:HEGet Rating) last announced its quarterly earnings results on Monday, February 14th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $770.27 million for the quarter. Hawaiian Electric Industries had a net margin of 8.70% and a return on equity of 10.48%. During the same period last year, the business earned $0.46 EPS.

A number of brokerages have weighed in on HE. Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $45.00 price objective on the stock. in a report on Tuesday, March 8th. StockNews.com started coverage on shares of Hawaiian Electric Industries in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Guggenheim raised shares of Hawaiian Electric Industries from a “sell” rating to a “neutral” rating and set a $41.00 target price for the company in a report on Thursday, January 20th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.75.

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd bought a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth about $29,000. Masso Torrence Wealth Management Inc. bought a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth about $35,000. Bank of New Hampshire bought a new stake in shares of Hawaiian Electric Industries in the 1st quarter worth about $36,000. Trust Co. of Vermont bought a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth about $64,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 242.7% in the 4th quarter. Lazard Asset Management LLC now owns 2,286 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 1,619 shares during the last quarter. Institutional investors and hedge funds own 52.08% of the company’s stock.

Shares of Hawaiian Electric Industries stock opened at $41.11 on Monday. The firm has a market cap of $4.50 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 5.99 and a beta of 0.27. Hawaiian Electric Industries has a 12-month low of $37.94 and a 12-month high of $45.97. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.97. The company’s fifty day simple moving average is $42.23 and its two-hundred day simple moving average is $41.44.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Shareholders of record on Thursday, February 24th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 23rd. This represents a $1.40 annualized dividend and a yield of 3.41%. This is a positive change from Hawaiian Electric Industries’s previous quarterly dividend of $0.34. Hawaiian Electric Industries’s dividend payout ratio (DPR) is 62.22%.

Hawaiian Electric Industries Company Profile (Get Rating)

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. 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.

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