Zacks: Analysts Expect Idacorp (IDA) to Announce $1.00 EPS

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Equities research analysts expect Idacorp (NYSE:IDA) to report earnings of $1.00 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Idacorp’s earnings. Idacorp reported earnings per share of $0.99 in the same quarter last year, which would indicate a positive year over year growth rate of 1%. The company is scheduled to report its next quarterly earnings results on Thursday, August 2nd.

On average, analysts expect that Idacorp will report full-year earnings of $4.19 per share for the current fiscal year, with EPS estimates ranging from $4.18 to $4.20. For the next financial year, analysts expect that the firm will post earnings of $4.34 per share, with EPS estimates ranging from $4.32 to $4.35. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Idacorp.

Idacorp (NYSE:IDA) last announced its quarterly earnings data on Thursday, May 3rd. The coal producer reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. The firm had revenue of $310.11 million during the quarter, compared to analyst estimates of $302.93 million. Idacorp had a return on equity of 9.62% and a net margin of 15.88%. During the same period in the previous year, the company earned $0.66 earnings per share.

Several equities analysts have recently commented on IDA shares. Zacks Investment Research raised Idacorp from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a report on Thursday, May 17th. Williams Capital lowered Idacorp from a “hold” rating to a “sell” rating and set a $80.00 target price for the company. in a report on Monday. Finally, ValuEngine lowered Idacorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Idacorp presently has a consensus rating of “Hold” and a consensus target price of $89.00.

In other news, CFO Steven R. Keen sold 3,557 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $87.72, for a total transaction of $312,020.04. Following the completion of the transaction, the chief financial officer now directly owns 17,240 shares of the company’s stock, valued at $1,512,292.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Tessia Park sold 300 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $85.40, for a total value of $25,620.00. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Motco bought a new position in Idacorp in the 4th quarter worth approximately $100,000. IFP Advisors Inc grew its holdings in Idacorp by 154.9% in the 1st quarter. IFP Advisors Inc now owns 1,881 shares of the coal producer’s stock worth $166,000 after buying an additional 1,143 shares in the last quarter. Two Sigma Securities LLC bought a new position in Idacorp in the 4th quarter worth approximately $202,000. Cypress Wealth Advisors LLC bought a new position in Idacorp in the 4th quarter worth approximately $203,000. Finally, Pitcairn Co. bought a new position in Idacorp in the 4th quarter worth approximately $209,000. 76.56% of the stock is owned by institutional investors and hedge funds.

Idacorp traded up $0.74, hitting $87.51, during midday trading on Thursday, Marketbeat reports. The stock had a trading volume of 245,298 shares, compared to its average volume of 327,976. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.81. The firm has a market cap of $4.44 billion, a P/E ratio of 20.79, a P/E/G ratio of 5.43 and a beta of 0.40. Idacorp has a 12 month low of $79.59 and a 12 month high of $100.04.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Monday, May 7th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, May 4th. Idacorp’s dividend payout ratio (DPR) is presently 56.06%.

About Idacorp

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Earnings History and Estimates for Idacorp (NYSE:IDA)

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