IDACORP (IDA) to Release Quarterly Earnings on Thursday

IDACORP (NYSE:IDA) is set to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.01 per share for the quarter. IDACORP has set its FY24 guidance at $5.25 to $5.45 EPS.Investors interested in listening to the company’s conference call can do so using this link.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The company had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. During the same period last year, the firm earned $0.83 EPS. On average, analysts expect IDACORP to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

IDACORP Price Performance

IDA stock opened at $94.76 on Wednesday. The firm has a 50 day moving average of $90.99 and a 200-day moving average of $93.98. IDACORP has a 12-month low of $86.43 and a 12-month high of $112.91. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 18.44 and a beta of 0.56.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.50%. IDACORP’s payout ratio is 64.59%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Monday, January 22nd. StockNews.com raised IDACORP to a “sell” rating in a report on Friday, April 26th. TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Wells Fargo & Company reduced their price objective on IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. Finally, Mizuho reduced their price objective on IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $93.80.

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.