Hydro One Limited (OTCMKTS:HRNNF) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Hydro One Limited (OTCMKTS:HRNNF) have earned an average rating of “Reduce” from the seven analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company.

A number of analysts recently issued reports on the company. TD Securities reissued a “hold” rating on shares of Hydro One in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Hydro One in a research report on Monday, April 20th. Scotiabank reiterated a “sector perform” rating on shares of Hydro One in a research note on Thursday, May 14th. Jefferies Financial Group downgraded Hydro One from a “hold” rating to an “underperform” rating in a report on Monday, June 1st. Finally, BMO Capital Markets restated a “market perform” rating on shares of Hydro One in a research report on Thursday, May 14th.

Hydro One Price Performance

Shares of HRNNF opened at $42.62 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.54 and a quick ratio of 0.54. Hydro One has a 1-year low of $35.12 and a 1-year high of $44.02. The stock has a market cap of $25.58 billion and a PE ratio of 33.83. The firm has a fifty day moving average price of $41.35 and a 200 day moving average price of $41.40.

Hydro One (OTCMKTS:HRNNF) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Hydro One had a return on equity of 10.83% and a net margin of 14.80%.The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.79 billion.

About Hydro One

Hydro One Ltd. is a Canadian electricity transmission and distribution utility headquartered in Toronto, Ontario. The company operates the largest high-voltage transmission network in the province, delivering power from generating stations to local distributors, municipalities and major industrial customers. In addition to its transmission business, Hydro One provides distribution services to a wide range of residential, commercial and industrial end users, maintaining poles, wires and related infrastructure that connect approximately 1.4 million customers across urban and rural communities.

Tracing its origins to the Ontario Hydro Electric Power Commission established in 1906, Hydro One emerged in its current form following the restructuring of Ontario’s vertically integrated power authority in the late 1990s and early 2000s.