Black Hills Corporation (BKH) Announces Earnings Results, Misses Expectations By $0.05 EPS
Black Hills Corporation (NYSE:BKH) issued its quarterly earnings results on Thursday. The utilities provider reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05), Briefing.com reports. The business had revenue of $342.10 million for the quarter, compared to analyst estimates of $369.84 million. Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. Black Hills Corporation updated its FY17 guidance to $3.30-3.40 EPS and its FY18 guidance to $3.35-3.55 EPS.
Black Hills Corporation (NYSE BKH) traded down $3.22 during mid-day trading on Friday, hitting $61.23. 1,950,312 shares of the stock traded hands, compared to its average volume of 440,728. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 18.92 and a beta of 0.78.
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BKH has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $70.00 price target on shares of Black Hills Corporation in a research note on Monday, July 31st. Zacks Investment Research cut shares of Black Hills Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Credit Suisse Group raised their target price on shares of Black Hills Corporation from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, October 2nd. Williams Capital cut shares of Black Hills Corporation from a “buy” rating to a “hold” rating and reduced their target price for the stock from $75.00 to $70.00 in a research note on Friday, October 6th. Finally, J P Morgan Chase & Co raised their target price on shares of Black Hills Corporation from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $71.25.
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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