Revenue Update on Hawaiian Electric Industries(NYSE:HE)

Hawaiian Electric Industries(NYSE:HE) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 14, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $617.395M. Analysts estimated a revenue of $705.920M. The revenues were -12.54% below the estimates. Earnings per share were $0.41. The reported EPS was below estimates by -2.38%. Analysts had estimated an EPS of $0.42.

Hawaiian Electric Industries (HE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.49% or 0.16 points. Due to strong positive momentum, the stock ended at $32.65, which is also near the day’s high of $32.74. The stock began the session at $32.56 and the volume stood at 5,33,282 shares. The 52-week high of the shares is $34.98 and the 52 week low is $28.305. The company has a current market capitalization of $3,545 M and it has 10,85,83,413 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Sep 9, 2016, Barry K Taniguchi (director) sold 14,942 shares at $30.29 per share price.Also, On Aug 16, 2016, A Maurice Myers (director) sold 34,500 shares at $30.47 per share price.On Aug 11, 2016, Thomas B Fargo (director) sold 7,000 shares at $30.60 per share price, according to the Form-4 filing with the securities and exchange commission.

Hawaiian Electric Industries Inc. (HEI) is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company operates through two segments: Electric utility and Bank. The Company operates its electric utility business through Hawaiian Electric Company Inc. (Hawaiian Electric) and its wholly owned subsidiaries Hawaii Electric Light Company Inc. (Hawaii Electric Light) and Maui Electric Company Limited (Maui Electric). The Electric utility segment is involved in the business of generating purchasing transmitting distributing and selling electric energy on all principal islands in Hawaii other than Kauai and operates on five separate grids. The Company operates its Bank segment through its bank subsidiaries ASB Hawaii Inc. (ASB Hawaii) and American Savings Bank F.S.B. (ASB). ASB provides a range of banking and other financial services to consumers and businesses.

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