Zacks Research Analysts Raise Earnings Estimates for IDACORP

IDACORP, Inc. (NYSE:IDA) – Research analysts at Zacks Research raised their Q3 2024 earnings per share estimates for IDACORP in a research report issued to clients and investors on Thursday, October 17th. Zacks Research analyst R. Department now expects that the energy company will earn $2.14 per share for the quarter, up from their prior forecast of $2.08. The consensus estimate for IDACORP’s current full-year earnings is $5.39 per share. Zacks Research also issued estimates for IDACORP’s Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.54 EPS, Q4 2025 earnings at $0.85 EPS, FY2025 earnings at $5.76 EPS, Q1 2026 earnings at $1.14 EPS, Q2 2026 earnings at $1.56 EPS, Q3 2026 earnings at $2.35 EPS and FY2026 earnings at $6.04 EPS.

Several other research analysts have also recently weighed in on IDA. Bank of America initiated coverage on shares of IDACORP in a report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective for the company. Morgan Stanley increased their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $104.00.

IDACORP Price Performance

IDACORP stock opened at $104.77 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. IDACORP has a one year low of $86.43 and a one year high of $105.24. The firm has a market capitalization of $5.58 billion, a P/E ratio of 21.04, a PEG ratio of 3.38 and a beta of 0.60. The business has a fifty day moving average price of $102.59 and a 200-day moving average price of $97.41.

IDACORP (NYSE:IDA) last announced its 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. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The firm had revenue of $451.04 million for the quarter, compared to the consensus estimate of $420.56 million. During the same quarter in the previous year, the business earned $1.35 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in IDACORP during the third quarter valued at $26,000. Rise Advisors LLC raised its stake in IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after buying an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of IDACORP during the 2nd quarter worth $35,000. Mather Group LLC. bought a new stake in shares of IDACORP in the 1st quarter valued at about $41,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in IDACORP in the fourth quarter valued at approximately $54,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.86 per share. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, November 5th. IDACORP’s dividend payout ratio (DPR) is 66.67%.

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.