Black Hills (NYSE:BKH) Updates 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 $3.91.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BKH shares. Royal Bank of Canada cut their price objective on shares of Black Hills from $61.00 to $57.00 and set a sector perform rating on the stock in a research report on Friday, February 9th. Scotiabank reduced their price objective on shares of Black Hills from $58.00 to $54.00 and set a sector perform rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com cut Black Hills from a hold rating to a sell rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $55.00.

Black Hills Stock Performance

Shares of BKH traded down $0.38 during midday trading on Wednesday, reaching $56.36. The stock had a trading volume of 413,128 shares, compared to its average volume of 539,216. The firm has a market cap of $3.85 billion, a PE ratio of 14.48 and a beta of 0.64. The firm has a 50 day simple moving average of $53.42 and a 200-day simple moving average of $52.54. Black Hills has a one year low of $46.43 and a one year high of $66.54. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.15.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. The firm had revenue of $591.70 million for the quarter, compared to the consensus estimate of $863.67 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. As a group, sell-side analysts anticipate that Black Hills will post 3.9 EPS for the current year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 17th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Thursday, May 16th. Black Hills’s dividend payout ratio (DPR) is presently 66.33%.

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.