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

Hawaiian Electric Industries (NYSE:HE) posted its 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. The company 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%. Hawaiian Electric Industries’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock traded up $0.06 on Friday, reaching $10.64. The company’s stock had a trading volume of 4,202,736 shares, compared to its average volume of 2,929,057. The business’s fifty day moving average price is $10.44 and its 200 day moving average price is $11.15. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -1.01 and a beta of 0.53. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19.

Analyst Upgrades and Downgrades

HE has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective 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. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Evercore ISI reduced their price target on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th.

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.