Hawaiian Electric Reports Solid Earnings; American Savings Bank Doing Well in Almost Every Metric
We are reaffirming our narrow economic moat and stable moat trend ratings along with our $30 per share fair value estimate after Hawaiian Electric Industries reported weak 2017 third-quarter core earnings versus last year, and reaffirmed 2017 consolidated core earnings guidance.On a consolidated basis, third-quarter earnings were $0.55 per share versus $0.58 per share in the same period last year. However, 2016 core earnings included a $0.06 per share favorable tax benefit when the company move...
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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