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

Hawaiian Electric Industries (NYSE:HE) announced its quarterly earnings results on Friday. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $983.38 million for the quarter. During the same period in the previous year, the company earned $0.37 EPS. Hawaiian Electric Industries’s revenue was up 9.0% compared to the same quarter last year.

Hawaiian Electric Industries Stock Up 0.6 %

NYSE:HE traded up $0.06 during trading hours on Friday, hitting $10.64. The stock had a trading volume of 4,202,736 shares, compared to its average volume of 2,929,057. The company has a market cap of $1.17 billion, a PE ratio of -1.01 and a beta of 0.53. The business has a 50 day simple moving average of $10.44 and a two-hundred day simple moving average of $11.15. Hawaiian Electric Industries has a 1-year low of $7.61 and a 1-year 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.

Analysts Set New Price Targets

Several research firms have issued reports on HE. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Evercore ISI decreased their price target on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company lowered their price target 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.

About Hawaiian Electric Industries

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.