Black Hills (NYSE:BKH) Releases Earnings Results, Beats Estimates By $0.17 EPS

Black Hills (NYSE:BKH) issued its earnings results on Wednesday. The utilities provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.70 by $0.17, Briefing.com reports. The company had revenue of $726.40 million for the quarter, compared to analyst estimates of $683.00 million. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. The business’s revenue was down 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. Black Hills updated its FY24 guidance to $3.80-4.00 EPS.

Black Hills Price Performance

Shares of BKH traded up $0.29 on Friday, hitting $57.87. The company’s stock had a trading volume of 101,251 shares, compared to its average volume of 537,320. Black Hills has a fifty-two week low of $46.43 and a fifty-two week high of $66.43. The company has a market capitalization of $3.95 billion, a PE ratio of 14.70 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.70 and a quick ratio of 0.56. The company has a 50 day moving average price of $53.63 and a 200 day moving average price of $52.60.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 17th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Thursday, May 16th. Black Hills’s dividend payout ratio (DPR) is 66.33%.

Wall Street Analyst Weigh In

BKH has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their target price on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Friday, February 9th. Scotiabank lowered their price objective on Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com raised Black Hills from a “sell” rating to a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.00.

Black Hills Company Profile

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.