Hawaiian Electric Industries Given Neutral Rating at Zacks (HE)
Hawaiian Electric Industries (NYSE:HE)‘s stock had its “neutral” rating restated by Zacks in a report issued on Monday. They currently have a $25.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 6.34% from the company’s current price.
Zacks’ analyst wrote, “Ahead of the second-quarter 2014 earnings results, we are maintaining our Neutral recommendation on Hawaiian Electric Industries Inc. The company’s stable financial position and disciplined investment to expand power generation capacity from renewable sources will likely boost its performance. The company’s continued cost curtailment initiatives will subsequently help it to improve future margins. We appreciate Hawaiian Electric’s efforts of maximizing shareholder wealth through the payment of regular dividends. However, we are cautious about stringent utility regulations and volatility in commodity prices, which could challenge the company’s future results.”
Hawaiian Electric Industries (NYSE:HE) traded down 2.17% on Monday, hitting $23.00. 1,048,383 shares of the company’s stock traded hands. Hawaiian Electric Industries has a 52-week low of $23.04 and a 52-week high of $27.15. The stock’s 50-day moving average is $24.65 and its 200-day moving average is $24.8. The company has a market cap of $2.334 billion and a P/E ratio of 13.60.
Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.10. The company had revenue of $783.75 million for the quarter, compared to the consensus estimate of $738.83 million. On average, analysts predict that Hawaiian Electric Industries will post $1.62 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. set a $23.00 price target on shares of Hawaiian Electric Industries in a research note on Wednesday, July 9th. They now have a “neutral” rating on the stock. Separately, analysts at TheStreet upgraded shares of Hawaiian Electric Industries to a “buy” rating in a research note on Friday, June 27th. Finally, analysts at TheStreet downgraded shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $25.13.
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 Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.