Zacks: Brokerages Anticipate Hawaiian Electric Industries, Inc. (NYSE:HE) to Post $0.42 EPS

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

According to Zacks, analysts expect that Hawaiian Electric Industries will report full year earnings of $2.16 per share for the current fiscal year. For the next year, analysts expect that the firm will report 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 released its quarterly earnings data on Monday, February 14th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.05. Hawaiian Electric Industries had a return on equity of 10.48% and a net margin of 8.70%. The business had revenue of $770.27 million during the quarter. During the same quarter in the prior year, the firm earned $0.46 EPS.

HE has been the topic of several recent research reports. Zacks Investment Research downgraded 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 research report on Tuesday, March 8th. 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 research note on Thursday, January 20th. Finally, StockNews.com initiated coverage on shares of Hawaiian Electric Industries in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.75.

Several hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its position in shares of Hawaiian Electric Industries by 11.0% during the 1st quarter. Nordea Investment Management AB now owns 4,166,696 shares of the utilities provider’s stock worth $179,418,000 after buying an additional 412,957 shares in the last quarter. State Street Corp raised its position in shares of Hawaiian Electric Industries by 3.4% during the 4th quarter. State Street Corp now owns 3,161,347 shares of the utilities provider’s stock worth $131,196,000 after buying an additional 105,153 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $98,569,000. Geode Capital Management LLC raised its holdings in shares of Hawaiian Electric Industries by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,838,154 shares of the utilities provider’s stock worth $75,051,000 after purchasing an additional 171,638 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Hawaiian Electric Industries by 4.7% in the 4th quarter. First Trust Advisors LP now owns 1,811,182 shares of the utilities provider’s stock worth $75,164,000 after purchasing an additional 80,589 shares in the last quarter. Institutional investors own 52.08% of the company’s stock.

Shares of HE opened at $42.17 on Monday. The firm has a fifty day moving average of $42.30 and a 200-day moving average of $41.43. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 5.92 and a beta of 0.28. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.08 and a current ratio of 0.08. Hawaiian Electric Industries has a 1 year low of $37.94 and a 1 year high of $45.97.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Shareholders of record on Thursday, February 24th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.32%. This is a positive change from Hawaiian Electric Industries’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, February 23rd. Hawaiian Electric Industries’s payout ratio is presently 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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