Hawaiian Electric Industries (NYSE:HE) Announces Earnings Results

Hawaiian Electric Industries (NYSE:HE) released its quarterly earnings results on Friday. The utilities provider reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23, Zacks reports. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $744.07 million for the quarter. During the same period last year, the firm posted $0.38 EPS.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $10.50 on Friday. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a market cap of $1.81 billion, a P/E ratio of -0.89 and a beta of 0.64. The company’s fifty day moving average is $10.51 and its two-hundred day moving average is $10.14.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HE. Wells Fargo & Company increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. Barclays boosted their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Hawaiian Electric Industries presently has an average rating of “Hold” and an average target price of $12.00.

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.