IDACORP (IDA) Scheduled to Post Quarterly Earnings on Thursday

IDACORP (NYSE:IDA) will 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.Individual interested in listening to the company’s earnings 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 for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The company had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. During the same quarter in the prior year, the business posted $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 Stock Up 0.2 %

Shares of IDACORP stock opened at $94.34 on Thursday. The business has a fifty day simple moving average of $90.49 and a 200 day simple moving average of $94.05. The stock has a market cap of $4.78 billion, a PE ratio of 18.35 and a beta of 0.56. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. IDACORP has a 12 month low of $86.43 and a 12 month high of $112.96.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be given a $0.83 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.52%. IDACORP’s dividend payout ratio is 64.59%.

Analyst Ratings Changes

IDA has been the topic of several research analyst reports. TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Guggenheim lowered IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research report on Monday, January 22nd. Wells Fargo & Company dropped their target price on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Mizuho reduced their price target on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Finally, Morgan Stanley increased their price objective on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.