IDACORP (NYSE:IDA) Issues FY 2024 Earnings Guidance

IDACORP (NYSE:IDA) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 5.350-5.450 for the period, compared to the consensus EPS estimate of 5.410. The company issued revenue guidance of -.

IDACORP Trading Up 0.2 %

Shares of NYSE:IDA opened at $102.16 on Thursday. The company has a market cap of $5.44 billion, a P/E ratio of 20.51, a PEG ratio of 3.49 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. IDACORP has a 1 year low of $86.43 and a 1 year high of $105.25. The stock’s fifty day moving average price is $102.81 and its 200-day moving average price is $98.11.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The company had revenue of $451.04 million for the quarter, compared to the consensus estimate of $420.56 million. During the same quarter in the prior year, the company earned $1.35 earnings per share. Sell-side analysts expect that IDACORP will post 5.38 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be issued a $0.86 dividend. This is an increase from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.37%. IDACORP’s dividend payout ratio is currently 69.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective on the stock. Bank of America initiated coverage on IDACORP in a research report on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. Morgan Stanley increased their target price on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. StockNews.com upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company raised their price target on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, IDACORP currently has an average rating of “Hold” and an average price target of $104.83.

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.