Entergy (NYSE:ETR) Issues FY24 Earnings Guidance

Entergy (NYSE:ETR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.05-7.35 for the period, compared to the consensus estimate of $7.21. Entergy also updated its FY 2024 guidance to 7.050-7.350 EPS.

Entergy Trading Up 0.2 %

NYSE:ETR traded up $0.20 during mid-day trading on Thursday, reaching $106.66. The company’s stock had a trading volume of 516,504 shares, compared to its average volume of 1,402,127. Entergy has a twelve month low of $87.10 and a twelve month high of $108.97. The company’s fifty day simple moving average is $103.13 and its two-hundred day simple moving average is $100.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.57 and a quick ratio of 0.32. The stock has a market cap of $22.74 billion, a P/E ratio of 9.59, a P/E/G ratio of 2.12 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The company had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. Entergy had a net margin of 19.41% and a return on equity of 10.54%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS. On average, equities analysts predict that Entergy will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is currently 40.76%.

Wall Street Analyst Weigh In

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

Insider Transactions at Entergy

In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the transaction, the executive vice president now directly owns 9,911 shares in the company, valued at $1,019,247.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the transaction, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the completion of the sale, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,000 shares of company stock valued at $1,226,685. 0.39% of the stock is owned by insiders.

Entergy Company Profile

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.