Zacks Research Weighs in on IDACORP, Inc.’s Q4 2024 Earnings (NYSE:IDA)

IDACORP, Inc. (NYSE:IDA) – Equities research analysts at Zacks Research boosted their Q4 2024 earnings per share (EPS) estimates for IDACORP in a report issued on Thursday, August 22nd. Zacks Research analyst R. Department now forecasts that the energy company will post earnings of $0.71 per share for the quarter, up from their prior forecast of $0.69. The consensus estimate for IDACORP’s current full-year earnings is $5.37 per share. Zacks Research also issued estimates for IDACORP’s Q1 2025 earnings at $1.08 EPS, Q3 2025 earnings at $2.29 EPS, FY2025 earnings at $5.72 EPS, Q1 2026 earnings at $1.10 EPS, Q2 2026 earnings at $1.49 EPS and FY2026 earnings at $5.90 EPS.

Several other equities research analysts have also commented on IDA. Wells Fargo & Company increased their target price on IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley raised their price objective on IDACORP from $94.00 to $102.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Mizuho upped their target price on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, IDACORP has an average rating of “Hold” and an average target price of $99.80.

IDACORP Stock Down 0.2 %

IDA opened at $102.00 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. IDACORP has a twelve month low of $86.43 and a twelve month high of $104.43. The company has a market cap of $5.43 billion, a PE ratio of 20.48 and a beta of 0.58. The company has a 50-day moving average price of $96.60 and a 200 day moving average price of $93.86.

IDACORP (NYSE:IDA) last posted its quarterly earnings data 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. IDACORP had a net margin of 15.04% and a return on equity of 9.38%. The company had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. During the same period in the prior year, the business posted $1.35 earnings per share.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 5th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.25%. The ex-dividend date is Monday, August 5th. IDACORP’s payout ratio is currently 66.67%.

Institutional Investors Weigh In On IDACORP

Hedge funds have recently modified their holdings of the company. Nuance Investments LLC purchased a new position in IDACORP in the first quarter worth approximately $86,962,000. Wellington Management Group LLP grew its holdings in shares of IDACORP by 50.3% during the 4th quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock worth $160,700,000 after purchasing an additional 546,818 shares during the period. Clean Energy Transition LLP acquired a new stake in shares of IDACORP during the 2nd quarter worth about $49,103,000. Victory Capital Management Inc. raised its holdings in IDACORP by 29.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,194,847 shares of the energy company’s stock valued at $117,477,000 after buying an additional 273,560 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in IDACORP by 128.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 394,857 shares of the energy company’s stock valued at $38,822,000 after buying an additional 221,777 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

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.