Hawaiian Electric Industries Initiates Disappointing 2017 Guidance
We reaffirm our narrow economic moat and stable moat trend ratings, along with our fair value estimate of $27 per share after Hawaiian Electric Industries reported in line 2016 core earnings, but initiated disappointing 2017 earnings guidance. Core earnings in 2016 were $1.75 per share, in line with our estimate and the consensus estimate.Hawaiian Electric established a 2017 earnings guidance range of $1.55-$1.70 per share, below our $1.71 estimate and the $1.73 consensus estimate. The majority...
Hawaiian Electric Industries is a holding company with its subsidiaries principally engaged in electric utility, banking, and renewable/sustainable infrastructure investment businesses operating in the State of Hawaii. The company and its operating utility subsidiaries, Hawaii Electric Light Company, Inc.and Maui Electric Company, Limited are regulated electric public utilities that provide essential electric service to Hawaii's population through the operation of five separate grids that serve communities on the islands of Oahu, Hawaii, and Maui, Lanai and Molokai. The company also owns ASB Hawaii, Inc. and its subsidiary, American Savings Bank, F.S.B., a financial institution in the State of Hawaii.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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