Entergy (NYSE:ETR) Releases Earnings Results, Misses Expectations By $0.27 EPS

Entergy (NYSE:ETR) released its earnings results on Wednesday. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.27), RTT News reports. Entergy had a return on equity of 10.54% and a net margin of 19.41%. The firm had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the firm earned $1.14 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Entergy updated its FY 2024 guidance to 7.050-7.350 EPS and its FY24 guidance to $7.05-7.35 EPS.

Entergy Stock Down 0.3 %

Shares of ETR opened at $107.17 on Wednesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.32 and a current ratio of 0.57. Entergy has a one year low of $87.10 and a one year high of $109.53. The stock has a market capitalization of $22.85 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 2.12 and a beta of 0.71. The stock has a 50 day moving average price of $102.96 and a 200 day moving average price of $100.48.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s payout ratio is 40.76%.

Insider Buying and Selling

In related news, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the sale, the insider now directly owns 3,442 shares in the company, valued at $348,433.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the sale, the insider now directly owns 3,442 shares in the company, valued at $348,433.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the sale, the executive vice president now owns 16,037 shares of the company’s stock, valued at $1,609,312.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,000 shares of company stock worth $1,226,685. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ETR shares. BMO Capital Markets boosted their price target on Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Barclays decreased their price target on Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Scotiabank decreased their price target on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $117.00 price target on shares of Entergy in a report on Monday, February 26th. Finally, KeyCorp boosted their price target on Entergy from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.45.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.