Entergy (NYSE:ETR) Releases FY 2024 Earnings Guidance

Entergy (NYSE:ETR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 7.050-7.350 for the period, compared to the consensus estimate of 7.200. The company issued revenue guidance of -. Entergy also updated its FY24 guidance to $7.05-7.35 EPS.

Entergy Price Performance

ETR opened at $107.53 on Friday. The company has a market capitalization of $22.93 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.10 and a beta of 0.71. The company has a quick ratio of 0.32, a current ratio of 0.69 and a debt-to-equity ratio of 1.68. The firm has a 50-day moving average price of $103.28 and a 200-day moving average price of $100.57. Entergy has a twelve month low of $87.10 and a twelve month high of $108.97.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a net margin of 17.75% and a return on equity of 10.20%. The firm had revenue of $31.17 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the firm posted $1.14 EPS. Entergy’s revenue was down .5% on a year-over-year basis. Equities analysts expect 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 issued a $1.13 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.20%. Entergy’s payout ratio is 45.34%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Deanna D. Rodriguez sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were 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 of the company’s stock, valued at $348,433.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction on Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the sale, the executive vice president now owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $1,226,685 in the last three months. 0.39% of the stock is currently owned by corporate insiders.

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.