Hydro One Limited (OTCMKTS:HRNNF) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Hydro One Limited (OTCMKTS:HRNNF) have earned a consensus recommendation of “Reduce” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have issued a hold rating on the company.

HRNNF has been the subject of a number of recent analyst reports. TD Securities reiterated a “hold” rating on shares of Hydro One in a research note on Thursday, May 14th. BMO Capital Markets reiterated a “market perform” rating on shares of Hydro One in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Hydro One in a research report on Monday, April 20th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Hydro One in a research report on Tuesday, February 17th. Finally, Jefferies Financial Group lowered shares of Hydro One from a “hold” rating to an “underperform” rating in a research report on Monday, June 1st.

Hydro One Price Performance

HRNNF stock opened at $40.86 on Monday. The firm has a 50 day moving average of $42.22 and a 200 day moving average of $40.81. The stock has a market capitalization of $24.52 billion and a PE ratio of 32.43. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.40. Hydro One has a 52 week low of $33.56 and a 52 week high of $44.02.

Hydro One (OTCMKTS:HRNNF) last released its earnings results on Wednesday, May 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Hydro One had a net margin of 14.80% and a return on equity of 10.83%.

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.