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Is Hawaiian Electric Industries Inc. (NYSE: HE) Stock Ready For A Higher Run In Its Share Price?

In the last trading session, 22.95 million Hawaiian Electric Industries Inc. (NYSE:HE) shares changed hands as the company’s beta touched 0.51. With the company’s per share price at $13.12 changed hands at -$0.11 or -0.83% during last session, the market valuation stood at $1.45B. HE’s last price was a discount, traded about -233.16% off its 52-week high of $43.71. The share price had its 52-week low at $9.06, which suggests the last value was 30.95% up since then. When we look at Hawaiian Electric Industries Inc.’s average trading volume, we note the 10-day average is 9.83 million shares, with the 3-month average coming to 7.01 million.

Analysts gave the Hawaiian Electric Industries Inc. (HE) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.30. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended HE as a Hold, 0 felt it is a Buy and 1 rated the stock as Underweight. Hawaiian Electric Industries Inc.’s EPS for the current quarter is expected to be $0.39.

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Hawaiian Electric Industries Inc. (NYSE:HE) trade information

Instantly HE was in red as seen at the end of in last trading. With action 4.46%, the performance over the past five days has been green. The drop to weekly highs of 13.74 on Friday, 09/15/23 subtracted -0.83% to the stock’s daily price. The company’s shares are showing year-to-date downside of -68.65%, with the 5-day performance at 4.46% in the green. However, in the 30-day time frame, Hawaiian Electric Industries Inc. (NYSE:HE) is -9.95% down. Looking at the short shares, we see there were 14.09 million shares sold at short interest cover period of 0.95 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9.17, meaning bulls need a downside of -43.08% from its current market value. According to analyst projections, HE’s forecast low is $8.00 with $11.00 as the target high. To hit the forecast high, the stock’s price needs a 16.16% surge from its current level, while the stock would need to tank 39.02% for it to hit the projected low.

Hawaiian Electric Industries Inc. (HE) estimates and forecasts

Data shows that the Hawaiian Electric Industries Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -65.37% over the past 6 months, a -21.82% in annual growth rate that is considerably lower than the industry average of 2.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Hawaiian Electric Industries Inc. will fall -31.60%, while the growth in revenue is estimated to hit -3.80% for the next quarter. Year-over-year growth is forecast to reach -12.70% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $863.19 million. 1 analysts are of the opinion that Hawaiian Electric Industries Inc.’s revenue for the quarter ending Dec 2023 will be $406.56 million. The company’s revenue for the corresponding quarters a year ago was $1.04 billion and $1.02 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -17.20%. The estimates for the next quarter sales put growth at -60.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 6.00%. The 2023 estimates are for Hawaiian Electric Industries Inc. earnings to decrease by -2.20%, but the outlook for the next 5-year period is at 4.20% per year.

HE Dividends

Hawaiian Electric Industries Inc. is expected to release its next quarterly earnings report between November 06 and November 10.

Hawaiian Electric Industries Inc. (NYSE:HE)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.33% of Hawaiian Electric Industries Inc. shares while 58.28% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 58.47%. There are 58.28% institutions holding the Hawaiian Electric Industries Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.57% of the shares, roughly 12.69 million HE shares worth $166.46 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.35% or 10.25 million shares worth $134.53 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 3.54 million shares estimated at $46.38 million under it, the former controlled 3.23% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.11% of the shares, roughly 3.41 million shares worth around $44.74 million.

On Key

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