Black Hills (NYSE:BKH - Get Free Report) posted its quarterly earnings data on Wednesday. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.17, Briefing.com reports. The company had revenue of $726.40 million during the quarter, compared to analyst estimates of $683.00 million. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. The firm's quarterly revenue was down 21.1% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. Black Hills updated its FY24 guidance to $3.80-4.00 EPS.
Black Hills Stock Up 2.2 %
BKH stock traded up $1.22 during midday trading on Thursday, hitting $57.58. The company's stock had a trading volume of 640,968 shares, compared to its average volume of 540,449. The company has a market cap of $3.93 billion, a PE ratio of 14.56 and a beta of 0.64. Black Hills has a 12 month low of $46.43 and a 12 month high of $66.54. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.15. The firm's 50-day moving average is $53.51 and its 200-day moving average is $52.56.
Black Hills Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 17th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.60 annualized dividend and a yield of 4.52%. Black Hills's dividend payout ratio (DPR) is presently 66.33%.
Wall Street Analyst Weigh In
BKH has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on Black Hills from $61.00 to $57.00 and set a "sector perform" rating for the company in a research note on Friday, February 9th. Scotiabank lowered their price target on Black Hills from $58.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Monday, April 22nd. Finally, StockNews.com downgraded Black Hills from a "hold" rating to a "sell" rating in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, Black Hills currently has an average rating of "Hold" and a consensus price target of $55.00.
Get Our Latest Stock Analysis on Black Hills
About Black Hills
(
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Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.
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