Hydro One (OTCMKTS:HRNNF) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Hydro One (OTCMKTS:HRNNF) issued its earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05, Zacks reports. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.58 billion. Hydro One had a return on equity of 11.08% and a net margin of 14.88%.

Hydro One Price Performance

HRNNF stock remained flat at $40.90 during midday trading on Friday. 268,855 shares of the company’s stock traded hands, compared to its average volume of 45,237. The firm has a market cap of $24.54 billion and a PE ratio of 23.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.40. Hydro One has a 12-month low of $35.12 and a 12-month high of $44.02. The business has a fifty day moving average price of $41.13 and a two-hundred day moving average price of $41.65.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HRNNF shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Hydro One in a report on Monday, April 20th. Jefferies Financial Group lowered shares of Hydro One from a “hold” rating to an “underperform” rating in a research report on Monday, June 1st. Royal Bank Of Canada restated a “sector perform” rating on shares of Hydro One in a research note on Thursday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Hydro One in a report on Thursday. Finally, Scotiabank reiterated a “sector perform” rating on shares of Hydro One in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold”.

Hydro One Company Profile

Hydro One Ltd. is a Canadian electricity transmission and distribution utility headquartered in Toronto, Ontario. The company operates the largest high-voltage transmission network in the province, delivering power from generating stations to local distributors, municipalities and major industrial customers. In addition to its transmission business, Hydro One provides distribution services to a wide range of residential, commercial and industrial end users, maintaining poles, wires and related infrastructure that connect approximately 1.4 million customers across urban and rural communities.

Tracing its origins to the Ontario Hydro Electric Power Commission established in 1906, Hydro One emerged in its current form following the restructuring of Ontario’s vertically integrated power authority in the late 1990s and early 2000s.