Wall Street brokerages expect that IDACORP Inc (NYSE:IDA) will announce $1.75 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for IDACORP’s earnings. The lowest EPS estimate is $1.70 and the highest is $1.81. IDACORP posted earnings per share of $1.80 during the same quarter last year, which suggests a negative year-over-year growth rate of 2.8%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, November 1st.

On average, analysts expect that IDACORP will report full year earnings of $4.28 per share for the current financial year, with EPS estimates ranging from $4.25 to $4.30. For the next financial year, analysts forecast that the firm will post earnings of $4.38 per share, with EPS estimates ranging from $4.36 to $4.40. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover IDACORP.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 2nd. The coal producer reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.12. The business had revenue of $339.95 million for the quarter, compared to analyst estimates of $328.74 million. IDACORP had a return on equity of 10.05% and a net margin of 16.71%. During the same quarter in the previous year, the company posted $0.99 EPS.

A number of brokerages recently weighed in on IDA. Zacks Investment Research lowered IDACORP from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Wells Fargo & Co upped their price target on IDACORP from $95.00 to $96.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Finally, ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $92.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. grew its position in shares of IDACORP by 18.5% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,009 shares of the coal producer’s stock valued at $353,000 after buying an additional 627 shares during the last quarter. TD Asset Management Inc. grew its position in shares of IDACORP by 4.1% in the 2nd quarter. TD Asset Management Inc. now owns 16,719 shares of the coal producer’s stock valued at $1,542,000 after buying an additional 660 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of IDACORP by 3.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,576 shares of the coal producer’s stock valued at $1,806,000 after buying an additional 670 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of IDACORP by 26.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,726 shares of the coal producer’s stock valued at $344,000 after buying an additional 777 shares during the last quarter. Finally, Strs Ohio grew its position in shares of IDACORP by 9.6% in the 2nd quarter. Strs Ohio now owns 9,100 shares of the coal producer’s stock valued at $839,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

IDA stock traded up $1.57 during midday trading on Tuesday, reaching $97.06. 166,200 shares of the stock were exchanged, compared to its average volume of 275,089. The firm has a market capitalization of $5.00 billion, a P/E ratio of 23.05, a P/E/G ratio of 8.35 and a beta of 0.27. IDACORP has a 52 week low of $79.59 and a 52 week high of $101.89. The company has a quick ratio of 1.73, a current ratio of 2.27 and a debt-to-equity ratio of 0.80.

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. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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