Entergy (NYSE:ETR) Issues FY24 Earnings Guidance

Entergy (NYSE:ETR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $7.05-7.35 for the period, compared to the consensus earnings per share estimate of $7.21. Entergy also updated its FY 2024 guidance to 7.050-7.350 EPS.

Entergy Price Performance

Shares of NYSE:ETR traded up $0.20 during trading on Thursday, hitting $106.66. 516,504 shares of the company’s stock were exchanged, compared to its average volume of 1,402,127. Entergy has a 52-week low of $87.10 and a 52-week high of $108.97. The business’s 50-day simple moving average is $103.13 and its 200 day simple moving average is $100.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.57 and a quick ratio of 0.32. The company has a market cap of $22.74 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 2.12 and a beta of 0.71.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.36). The company had revenue of $31.17 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Entergy had a return on equity of 10.54% and a net margin of 19.41%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. As a group, equities analysts predict that Entergy will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is presently 40.76%.

Analysts Set New Price Targets

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

Insider Activity

In related news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total value of $151,845.00. Following the completion of the transaction, the insider now directly owns 3,442 shares in the company, valued at $348,433.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Entergy news, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the sale, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Deanna D. Rodriguez sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the transaction, the insider now directly owns 3,442 shares in the company, valued at approximately $348,433.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,000 shares of company stock valued at $1,226,685. 0.39% of the stock is owned by insiders.

Entergy Company Profile

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.