Black Hills (NYSE:BKH) Issues FY24 Earnings Guidance

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

Analysts Set New Price Targets

Several analysts have commented on the company. Wells Fargo & Company raised their price objective on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Scotiabank increased their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Price Performance

Shares of NYSE:BKH traded up $1.21 during midday trading on Friday, hitting $60.78. The company’s stock had a trading volume of 456,582 shares, compared to its average volume of 471,177. Black Hills has a 12-month low of $48.27 and a 12-month high of $62.20. The company has a market cap of $4.24 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 4.16 and a beta of 0.69. 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 business’s 50 day simple moving average is $60.19 and its 200 day simple moving average is $57.47.

Black Hills (NYSE:BKH) last posted its quarterly earnings results 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). Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The company had revenue of $401.60 million during the quarter. On average, analysts forecast that Black Hills will post 3.91 EPS for the current year.

Black Hills Dividend Announcement

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

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.