Black Hills (NYSE:BKH) Updates FY24 Earnings Guidance

Black Hills (NYSE:BKH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.80-$4.00 for the period, compared to the consensus earnings per share estimate of $3.92. Black Hills also updated its FY 2024 guidance to 3.800-4.000 EPS.

Black Hills Trading Up 2.0 %

BKH stock traded up $1.21 during trading on Friday, hitting $60.78. The company had a trading volume of 456,582 shares, compared to its average volume of 471,177. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. Black Hills has a one year low of $48.27 and a one year high of $62.20. The business has a 50-day moving average of $60.19 and a 200-day moving average of $57.47. The stock has a market cap of $4.24 billion, a PE ratio of 15.05, a PEG ratio of 4.16 and a beta of 0.69.

Black Hills (NYSE:BKH) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.12). Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The firm had revenue of $401.60 million during the quarter. Research analysts predict that Black Hills will post 3.91 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted 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 lifted their price target on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.00.

About Black Hills

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.