IDACORP (IDA) Scheduled to Post Quarterly Earnings on Thursday

IDACORP (NYSE:IDA) is scheduled to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect IDACORP to post earnings of $1.01 per share for the quarter. IDACORP has set its FY24 guidance at $5.25 to $5.45 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The firm had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. During the same period last year, the company earned $0.83 earnings per share. On average, analysts expect IDACORP to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

IDACORP Stock Down 0.6 %

Shares of IDACORP stock traded down $0.54 on Tuesday, reaching $94.35. 10,475 shares of the company were exchanged, compared to its average volume of 375,341. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 18.46 and a beta of 0.56. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. IDACORP has a one year low of $86.43 and a one year high of $112.91. The company has a 50-day moving average of $90.99 and a 200 day moving average of $93.98.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is currently 64.59%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Mizuho lowered their price target on IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. TheStreet downgraded shares of IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, January 22nd. Morgan Stanley increased their target price on IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Finally, Wells Fargo & Company reduced their price target on IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $93.80.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.