Hawaiian Electric Industries’s “Neutral” Rating Reaffirmed at Zacks (HE)
Hawaiian Electric Industries (NYSE:HE)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Friday, StockRatingsNetwork.com reports. They currently have a $26.00 price target on the stock. Zacks‘ price objective indicates a potential upside of 5.52% from the stock’s previous close.
Zacks‘ analyst wrote, “Hawaiian Electric Industries’ second quarter earnings beat the Zacks Consensus Estimate. The results reflect higher bank earnings compared with the same quarter last year. However, the positives were partly offset by lower utility earnings due to a customer refund recorded in the quarter. Again, ASB is well positioned to generate robust returns despite a challenging interest rate environment on the back of operational improvements and a de-risked balance sheet. However, lower electricity volume sales, a tourism-dependant Hawaiian economy, lowered guidance and uncertainty over the Japanese economy remain matters of concern for the company. Thus we maintain our market Neutral recommendation on the stock. “
Shares of Hawaiian Electric Industries (NYSE:HE) traded up 0.29% on Friday, hitting $24.7116. The stock had a trading volume of 113,298 shares. Hawaiian Electric Industries has a 1-year low of $23.65 and a 1-year high of $28.30. The stock’s 50-day moving average is $25.73 and its 200-day moving average is $26.44. The company has a market cap of $2.450 billion and a price-to-earnings ratio of 17.96.
A number of other analysts have also recently weighed in on HE. Analysts at Barclays Capital raised their price target on shares of Hawaiian Electric Industries (NYSE:HE) from $26.00 to $27.00 in a research note to investors on Monday, August 12th.
One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.75.
Hawaiian Electric Industries, Inc (NYSE:HE) is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii.
To view Zacks’ full report, visit www.zacks.com
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