Black Hills (NYSE:BKH) Releases FY 2024 Earnings Guidance

Black Hills (NYSE:BKH) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.800-4.000 for the period, compared to the consensus EPS estimate of 3.920. The company issued revenue guidance of -. Black Hills also updated its FY24 guidance to $3.80-$4.00 EPS.

Black Hills Stock Performance

NYSE:BKH traded up $1.21 during mid-day trading on Friday, hitting $60.78. The stock had a trading volume of 456,582 shares, compared to its average volume of 518,025. Black Hills has a twelve month low of $48.27 and a twelve month high of $62.20. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 4.36 and a beta of 0.69. The company’s 50 day simple moving average is $60.19 and its 200 day simple moving average is $57.49.

Black Hills (NYSE:BKH) last released 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 during the quarter. Black Hills had a net margin of 12.00% and a return on equity of 7.51%. On average, equities research analysts forecast that Black Hills will post 3.91 earnings per share for the current year.

Black Hills Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.28%. Black Hills’s dividend payout ratio is currently 69.89%.

Analysts Set New Price Targets

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