Black Hills Corporation (BKH) Expected to Announce Earnings of $0.57 Per Share
Brokerages expect Black Hills Corporation (NYSE:BKH) to report earnings of $0.57 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Black Hills Corporation’s earnings. Black Hills Corporation reported earnings per share of $0.48 during the same quarter last year, which would indicate a positive year over year growth rate of 18.8%. The firm is expected to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that Black Hills Corporation will report full year earnings of $3.51 per share for the current fiscal year, with EPS estimates ranging from $3.45 to $3.57. For the next fiscal year, analysts anticipate that the business will report earnings of $3.70 per share, with EPS estimates ranging from $3.65 to $3.80. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Black Hills Corporation.
Black Hills Corporation (NYSE:BKH) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.10). Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The firm had revenue of $348.00 million for the quarter, compared to the consensus estimate of $356.85 million. During the same quarter last year, the business earned $0.39 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year.
BKH has been the topic of several recent analyst reports. Williams Capital boosted their price target on Black Hills Corporation from $68.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, June 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $73.00 price target on shares of Black Hills Corporation in a research note on Wednesday, August 9th. BidaskClub lowered Black Hills Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Zacks Investment Research raised Black Hills Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $72.50.
Institutional investors have recently bought and sold shares of the business. Eagle Asset Management Inc. boosted its stake in Black Hills Corporation by 5.9% in the first quarter. Eagle Asset Management Inc. now owns 81,622 shares of the utilities provider’s stock worth $5,425,000 after purchasing an additional 4,558 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Black Hills Corporation by 977.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 99,156 shares of the utilities provider’s stock worth $6,251,000 after purchasing an additional 89,956 shares in the last quarter. Swiss National Bank boosted its stake in Black Hills Corporation by 1.9% in the first quarter. Swiss National Bank now owns 87,579 shares of the utilities provider’s stock worth $5,821,000 after purchasing an additional 1,600 shares in the last quarter. Credit Agricole S A acquired a new position in Black Hills Corporation in the first quarter worth $321,000. Finally, World Asset Management Inc acquired a new position in Black Hills Corporation in the first quarter worth $218,000. 94.01% of the stock is currently owned by institutional investors.
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Black Hills Corporation (NYSE:BKH) opened at 69.63 on Friday. Black Hills Corporation has a 52 week low of $54.76 and a 52 week high of $72.02. The company’s 50-day moving average price is $69.96 and its 200 day moving average price is $68.51. The company has a market capitalization of $3.72 billion, a PE ratio of 29.07 and a beta of 0.80.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Wednesday, August 16th. Black Hills Corporation’s dividend payout ratio is currently 74.79%.
About Black Hills Corporation
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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