Analysts Expect IDACORP Inc (NYSE:IDA) Will Post Earnings of $1.91 Per Share

Brokerages expect that IDACORP Inc (NYSE:IDA) will post $1.91 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for IDACORP’s earnings. IDACORP reported earnings of $2.02 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 5.4%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that IDACORP will report full year earnings of $4.47 per share for the current fiscal year, with EPS estimates ranging from $4.45 to $4.50. For the next fiscal year, analysts forecast that the business will post earnings of $4.59 per share, with EPS estimates ranging from $4.52 to $4.69. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for IDACORP.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, August 1st. The coal producer reported $1.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.12). IDACORP had a return on equity of 9.40% and a net margin of 16.16%. The firm had revenue of $316.90 million for the quarter, compared to the consensus estimate of $327.38 million. During the same period last year, the company posted $1.23 EPS.

IDA has been the subject of a number of recent analyst reports. ValuEngine raised shares of IDACORP from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Zacks Investment Research downgraded shares of IDACORP from a “hold” rating to a “sell” rating and set a $108.00 price target for the company. in a report on Friday, July 26th.

Shares of IDACORP stock traded up $1.55 on Monday, reaching $108.03. 290,900 shares of the stock were exchanged, compared to its average volume of 335,936. The firm’s 50 day moving average is $103.35 and its 200-day moving average is $100.93. IDACORP has a one year low of $89.31 and a one year high of $108.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.64 and a current ratio of 2.03. The firm has a market cap of $4.11 billion, a PE ratio of 24.06, a P/E/G ratio of 6.10 and a beta of 0.29.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Friday, August 2nd. IDACORP’s dividend payout ratio (DPR) is presently 56.12%.

In other news, VP Tessia Park sold 280 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $103.29, for a total transaction of $28,921.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Enterprise Financial Services Corp raised 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 acquiring an additional 260 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of IDACORP during the first quarter valued at $50,000. NumerixS Investment Technologies Inc bought a new position in shares of IDACORP during the second quarter valued at $50,000. Hanson & Doremus Investment Management raised its stake in shares of IDACORP by 108.4% during the first quarter. Hanson & Doremus Investment Management now owns 521 shares of the coal producer’s stock valued at $52,000 after acquiring an additional 271 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of IDACORP during the second quarter valued at $80,000. 76.72% of the stock is owned by institutional investors and hedge funds.

IDACORP Company Profile

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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