IDACORP (NYSE:IDA) Issues FY24 Earnings Guidance

IDACORP (NYSE:IDA) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $5.25-5.45 for the period, compared to the consensus EPS estimate of $5.38.

Wall Street Analyst Weigh In

Several research firms have recently commented on IDA. Morgan Stanley raised their price objective on IDACORP from $92.00 to $95.00 and gave the stock an equal weight rating in a research note on Thursday, March 21st. Wells Fargo & Company lifted their target price on IDACORP from $94.00 to $98.00 and gave the company an equal weight rating in a research note on Friday. Guggenheim cut IDACORP from a buy rating to a neutral rating and set a $93.00 price target for the company. in a report on Monday, January 22nd. StockNews.com upgraded IDACORP to a sell rating in a report on Friday, April 26th. Finally, TheStreet cut IDACORP from a b- rating to a c+ rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $94.60.

IDACORP Trading Up 1.8 %

Shares of IDACORP stock traded up $1.67 on Friday, reaching $96.20. The company had a trading volume of 480,824 shares, compared to its average volume of 340,427. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 19.32 and a beta of 0.55. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The firm’s 50-day moving average price is $91.46 and its two-hundred day moving average price is $93.97. IDACORP has a 1 year low of $86.43 and a 1 year high of $112.64.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, May 2nd. The energy company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). The company had revenue of $448.94 million during the quarter, compared to analysts’ expectations of $441.21 million. IDACORP had a return on equity of 8.73% and a net margin of 14.18%. During the same quarter last year, the firm posted $1.11 EPS. As a group, research analysts predict that IDACORP will post 5.32 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s payout ratio is currently 66.67%.

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.