Entergy (NYSE:ETR) Updates FY 2024 Earnings Guidance

Entergy (NYSE:ETR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 7.050-7.350 for the period, compared to the consensus estimate of 7.200. The company issued revenue guidance of -. Entergy also updated its FY24 guidance to $7.05-7.35 EPS.

Entergy Price Performance

Shares of Entergy stock traded down $0.28 during trading on Wednesday, reaching $106.90. The company’s stock had a trading volume of 1,516,195 shares, compared to its average volume of 1,398,398. The stock has a 50-day moving average price of $102.96 and a two-hundred day moving average price of $100.48. The stock has a market capitalization of $22.80 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 2.12 and a beta of 0.71. The company has a current ratio of 0.57, a quick ratio of 0.32 and a debt-to-equity ratio of 1.57. Entergy has a one year low of $87.10 and a one year high of $109.53.

Entergy (NYSE:ETR) last announced its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.27). Entergy had a return on equity of 10.54% and a net margin of 19.41%. The company had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. Entergy’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Entergy will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is presently 40.76%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Entergy from $110.00 to $113.00 and gave the stock an outperform rating in a report on Monday, February 26th. Scotiabank cut their price objective on shares of Entergy from $111.00 to $104.00 and set a sector perform rating on the stock in a report on Monday. Barclays lowered their target price on shares of Entergy from $108.00 to $107.00 and set an equal weight rating for the company in a report on Monday, April 15th. KeyCorp increased their price target on Entergy from $108.00 to $112.00 and gave the company an overweight rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada restated an outperform rating and issued a $117.00 price target on shares of Entergy in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $109.45.

Insiders Place Their Bets

In other news, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the sale, the executive vice president now owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares in the company, valued at $1,019,247.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the sale, the executive vice president now owns 16,037 shares in the company, valued at $1,609,312.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,000 shares of company stock worth $1,226,685. Corporate insiders own 0.54% of the company’s stock.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.