IDACORP (NYSE:IDA) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

IDACORP (NYSE:IDA) posted its quarterly earnings results on Thursday. The energy company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06), Briefing.com reports. The business had revenue of $448.94 million for the quarter, compared to analyst estimates of $441.21 million. IDACORP had a return on equity of 8.73% and a net margin of 14.18%. During the same quarter in the prior year, the firm earned $1.11 EPS. IDACORP updated its FY24 guidance to $5.25-5.45 EPS.

IDACORP Trading Up 1.8 %

NYSE IDA traded up $1.67 during trading hours on Friday, hitting $96.20. The company’s stock had a trading volume of 480,824 shares, compared to its average volume of 340,427. IDACORP has a twelve month low of $86.43 and a twelve month high of $112.64. The firm has a market capitalization of $4.88 billion, a P/E ratio of 19.32 and a beta of 0.55. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average of $91.46 and a 200 day moving average of $93.99.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio is 66.67%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of IDACORP to a “sell” rating in a research note on Friday, April 26th. TheStreet lowered IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Morgan Stanley upped their price target on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Mizuho reduced their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Finally, Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.60.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.