Hydro One (OTCMKTS:HRNNF) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Hydro One reported quarterly EPS of $0.45, beating analysts’ consensus estimate of $0.40 by $0.05. The company posted a 14.80% net margin and 10.83% return on equity.
• Shares rose 1.4% to $40.84 during mid-day trading, giving Hydro One a market capitalization of approximately $24.51 billion.
• Analyst sentiment remains cautious: six analysts rate the stock a hold and one rates it a sell, resulting in a consensus “Reduce” rating; Jefferies recently downgraded the shares to “underperform.”

Hydro One (OTCMKTS:HRNNF - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.05, Zacks reports. Hydro One had a net margin of 14.80% and a return on equity of 10.83%.

Hydro One Stock Up 1.4%

OTCMKTS HRNNF traded up $0.56 during mid-day trading on Wednesday, reaching $40.84. The stock had a trading volume of 275 shares, compared to its average volume of 90,582. The stock has a market cap of $24.51 billion and a PE ratio of 32.42. Hydro One has a 1 year low of $35.12 and a 1 year high of $44.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.54 and a quick ratio of 0.54. The company has a fifty day moving average price of $41.10 and a 200 day moving average price of $41.61.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Scotiabank reaffirmed a "sector perform" rating on shares of Hydro One in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Hydro One in a research report on Monday, April 20th. BMO Capital Markets restated a "market perform" rating on shares of Hydro One in a research note on Thursday, May 14th. TD Securities reaffirmed a "hold" rating on shares of Hydro One in a research report on Thursday, May 14th. Finally, Jefferies Financial Group downgraded Hydro One from a "hold" rating to an "underperform" rating in a report on Monday, June 1st. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce".

About Hydro One

Hydro One Ltd. is a Canadian electricity transmission and distribution utility headquartered in Toronto, Ontario. The company operates the largest high-voltage transmission network in the province, delivering power from generating stations to local distributors, municipalities and major industrial customers. In addition to its transmission business, Hydro One provides distribution services to a wide range of residential, commercial and industrial end users, maintaining poles, wires and related infrastructure that connect approximately 1.4 million customers across urban and rural communities.

Tracing its origins to the Ontario Hydro Electric Power Commission established in 1906, Hydro One emerged in its current form following the restructuring of Ontario’s vertically integrated power authority in the late 1990s and early 2000s.

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