Hawaiian Electric Industries Inc. (NYSE:HE) finished Thursday with a subtraction of -$2.61 to close at $32.78, a downside of -7.37 percent. An average of 1,085,960 shares of common stock have been traded in the last five days. There was a fall of -$4.94 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 588,370 shares traded, while the 50-day average volume stands at 475,588.
HE stock has decreased by -11.69% in the last month. The company shares reached their 1-month lowest point of $32.49 on 08/10/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $33.18 and a high of $44.01 in 52 weeks. It has reached a new high 5 times so far this year and lost -21.67% or -$9.07 in price. In spite of this, the price is down -25.51% from the 52-week high.
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Insider Transactions
HE stock investors should be aware that Hawaiian Electric Industries Inc. (HE) stock had its last reported insider trading activity 156 days ago on Mar 08.
Valuation Metrics
Hawaiian Electric Industries Inc. (HE) has a trailing price-to-earnings (P/E) ratio of 15.87. The stock’s beta is 0.43. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.94, the price-to-book (PB) ratio at 1.60.
Financial Health
Further, the company has a long term debt to equity ratio of 1.15 and a total debt to equity ratio of 1.52 for the quarter ending June 29. Hawaiian Electric Industries Inc.’s EBITDA margin for the year ending June 29 is 17.03%, while its operating margin for the same period stands at 9.70%. Its gross profit as reported stood at $381.07 million compared to revenue of $3.74 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Hawaiian Electric Industries Inc.’s return on assets was 1.40%.
Earnings Surprise
For the three-month period that ended June 29, Hawaiian Electric Industries Inc. had $2.57 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $54.61 million in the quarter, while revenues of $57.35 million were shrunk -26.66%. The analyst consensus anticipated Hawaiian Electric Industries Inc.’s latest quarter earnings to come in at $0.52 per share, but it turned out to be $0.5, a -3.80% surprise. For the quarter, EBITDA amounted to $170.95 million. At the end of the quarter ending June 29, Hawaiian Electric Industries Inc.’s stock balance sheet showed total liabilities of 14.27 billion. Shareholders own equity worth $109.61 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Hawaiian Electric Industries Inc. (HE) price momentum. RSI 9-day as of the close on 10 August was 13.16%, suggesting the stock is oversold, with historical volatility in this time frame at 37.68%.
As of today, HE’s price is $35.64 -13.10% or -$4.94 from its 5-day moving average. HE is currently trading -12.75% lower than its 20-day SMA and -12.75% lower than its 100-day SMA. However, the stock’s current price level is -8.08% below the SMA50 and -8.77% below the SMA200.
The stochastic %K and %D were 5.72% and 7.29%, respectively, and the average true range (ATR) was 1.15. With the 14-day stochastic at 3.78% and the average true range at 1.00, the RSI (14) stands at 20.47%. The stock has reached -2.18 on the 9-day MACD Oscillator while the 14-day reading was at -3.08.
Analyst Ratings
BofA Securities downgraded Hawaiian Electric Industries Inc. (NYSE: HE) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Hawaiian Electric Industries Inc. (HE) among analysts is Underweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell HE, while 3 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is HE’s price target for the next 12 months?
Analysts predict a range of price targets between $30.00 and $35.00, with a median target of $34.50. Taking a look at these predictions, the average price target given by analysts for Hawaiian Electric Industries Inc. (HE) stock is $33.50.
