Brokerages Expect IDACORP Inc (NYSE:IDA) Will Post Earnings of $1.17 Per Share

Equities research analysts forecast that IDACORP Inc (NYSE:IDA) will report earnings of $1.17 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for IDACORP’s earnings. IDACORP reported earnings per share of $1.23 during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.9%. The firm is expected to issue its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that IDACORP will report full year earnings of $4.46 per share for the current financial year, with EPS estimates ranging from $4.44 to $4.50. For the next financial year, analysts forecast that the firm will report earnings of $4.59 per share, with EPS estimates ranging from $4.52 to $4.69. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow IDACORP.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, May 2nd. The coal producer reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.13. IDACORP had a return on equity of 9.89% and a net margin of 16.54%. The company had revenue of $350.32 million for the quarter, compared to analysts’ expectations of $298.14 million. During the same period in the previous year, the firm posted $0.72 earnings per share.

Several equities research analysts have weighed in on IDA shares. ValuEngine cut IDACORP from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Zacks Investment Research cut IDACORP from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Monday.

NYSE IDA traded up $0.47 during trading hours on Wednesday, hitting $103.87. 264,750 shares of the company were exchanged, compared to its average volume of 255,191. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.11 and a quick ratio of 1.72. IDACORP has a 52 week low of $85.96 and a 52 week high of $105.46. The stock has a market capitalization of $5.27 billion, a P/E ratio of 23.13, a PEG ratio of 6.11 and a beta of 0.35.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 6th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, May 3rd. This represents a $2.52 annualized dividend and a yield of 2.43%. IDACORP’s payout ratio is currently 56.12%.

In other IDACORP news, VP Tessia Park sold 280 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $103.29, for a total transaction of $28,921.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDA. Liberty Wealth Management LLC bought a new position in shares of IDACORP during the fourth quarter valued at approximately $34,000. Fort L.P. grew its stake in shares of IDACORP by 303.2% during the first quarter. Fort L.P. now owns 379 shares of the coal producer’s stock valued at $38,000 after buying an additional 285 shares during the last quarter. Lavaca Capital LLC grew its stake in shares of IDACORP by 37.1% during the first quarter. Lavaca Capital LLC now owns 399 shares of the coal producer’s stock valued at $40,000 after buying an additional 108 shares during the last quarter. Enterprise Financial Services Corp grew its stake in shares of IDACORP by 176.9% during the first quarter. Enterprise Financial Services Corp now owns 407 shares of the coal producer’s stock valued at $41,000 after buying an additional 260 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of IDACORP during the first quarter valued at approximately $41,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

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. The company operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon; 3 natural gas-fired plants in southern Idaho; and 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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