Hydro One (OTCMKTS:HRNNF) Shares Gap Down – Time to Sell?

Hydro One Limited (OTCMKTS:HRNNF)’s stock price gapped down before the market opened on Thursday. The stock had previously closed at $41.00, but opened at $36.22. Hydro One shares last traded at $41.17, with a volume of 2,483 shares changing hands.

Wall Street Analysts Forecast Growth

HRNNF has been the subject of a number of recent analyst reports. Barclays reiterated an “overweight” rating on shares of Hydro One in a report on Friday, October 16th. BMO Capital Markets reissued a “market perform” rating on shares of Hydro One in a research note on Thursday, August 13th. Royal Bank Of Canada restated a “sector perform” rating on shares of Hydro One in a report on Thursday, August 13th. Jefferies Financial Group restated an “underperform” rating on shares of Hydro One in a report on Wednesday, August 19th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Hydro One in a research note on Wednesday, October 28th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Hydro One Stock Down 0.1%

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.49. The company has a fifty day simple moving average of $37.39 and a 200 day simple moving average of $40.42. The firm has a market capitalization of $24.57 billion and a P/E ratio of 23.94.

Hydro One (OTCMKTS:HRNNF) last issued its earnings results on Wednesday, August 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. Hydro One had a net margin of 14.88% and a return on equity of 11.02%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.58 billion.

Hydro One Company Profile

Hydro One Limited is an electricity transmission and distribution company based in Ontario, Canada. Through its operating subsidiaries, including Hydro One Networks Inc, the company owns and operates a large transmission network and provides electricity distribution services to residential, commercial and industrial customers across the province.

The company’s activities include transporting high-voltage electricity from generating facilities to local utilities and large customers, distributing electricity through local networks, and maintaining and upgrading transmission and distribution infrastructure.