IDACORP (IDA) Scheduled to Post Quarterly Earnings on Thursday

IDACORP (NYSE:IDA) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect IDACORP to post earnings of $2.19 per share for the quarter. IDACORP has set its FY24 guidance at $5.25-$5.45 EPS and its FY 2024 guidance at 5.300-5.450 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. The firm had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same quarter in the prior year, the business earned $1.35 EPS. On average, analysts expect IDACORP to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

IDACORP Trading Up 0.2 %

NYSE:IDA opened at $103.82 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The stock’s 50 day simple moving average is $102.84 and its 200-day simple moving average is $98.00. IDACORP has a 12-month low of $86.43 and a 12-month high of $105.25. The firm has a market cap of $5.53 billion, a P/E ratio of 20.85, a PEG ratio of 3.49 and a beta of 0.60.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.86 per share. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.31%. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio is presently 69.08%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group started coverage on IDACORP in a report 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 report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price objective on the stock. Wells Fargo & Company increased their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley upped their price target on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, IDACORP has a consensus rating of “Hold” and an average price target of $104.83.

About IDACORP

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.