Black Hills (NYSE:BKH) Releases FY24 Earnings Guidance

by · The Markets Daily

Black Hills (NYSE:BKH – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.80-$4.00 for the period, compared to the consensus EPS estimate of $3.92. Black Hills also updated its FY 2024 guidance to 3.800-4.000 EPS.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BKH shares. Wells Fargo & Company raised their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank boosted their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, Black Hills currently has a consensus rating of “Hold” and an average price target of $58.00.

View Our Latest Stock Analysis on Black Hills

Black Hills Stock Performance

BKH traded up $1.21 during mid-day trading on Friday, reaching $60.78. 456,582 shares of the company traded hands, compared to its average volume of 471,177. The stock has a market capitalization of $4.24 billion, a P/E ratio of 15.05, a P/E/G ratio of 4.16 and a beta of 0.69. Black Hills has a 52-week low of $48.27 and a 52-week high of $62.20. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. The company’s fifty day moving average price is $60.19 and its 200-day moving average price is $57.47.

Black Hills (NYSE:BKH – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The business had revenue of $401.60 million for the quarter. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. On average, sell-side analysts expect that Black Hills will post 3.91 EPS for the current year.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.28%. Black Hills’s payout ratio is 64.36%.

About Black Hills

(Get Free Report)

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.

Featured Stories