Wall Street brokerages expect Idacorp (NYSE:IDA) to announce earnings per share (EPS) of $1.00 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Idacorp’s earnings. Idacorp reported earnings of $0.99 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The business is expected to report its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Idacorp will report full year earnings of $4.19 per share for the current fiscal year, with EPS estimates ranging from $4.18 to $4.20. For the next financial year, analysts forecast that the firm will post earnings of $4.34 per share, with EPS estimates ranging from $4.32 to $4.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Idacorp.
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Idacorp (NYSE:IDA) last posted its quarterly earnings data on Thursday, May 3rd. The coal producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Idacorp had a return on equity of 9.62% and a net margin of 15.88%. The business had revenue of $310.11 million during the quarter, compared to analysts’ expectations of $302.93 million. During the same quarter in the previous year, the firm earned $0.66 EPS.
Several equities analysts recently weighed in on IDA shares. Williams Capital reissued a “hold” rating and set a $80.00 price objective (down previously from $86.00) on shares of Idacorp in a research report on Monday, February 26th. Zacks Investment Research raised Idacorp from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Wednesday, March 21st. Finally, ValuEngine raised Idacorp from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Idacorp currently has an average rating of “Hold” and a consensus target price of $89.00.
Shares of NYSE IDA traded down $0.48 during trading hours on Thursday, hitting $92.36. 224,784 shares of the company’s stock were exchanged, compared to its average volume of 327,803. Idacorp has a 1-year low of $79.59 and a 1-year high of $100.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.56 and a current ratio of 1.92. The stock has a market capitalization of $4.60 billion, a PE ratio of 21.94, a P/E/G ratio of 5.63 and a beta of 0.39.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 30th. Shareholders of record on Monday, May 7th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, May 4th. This represents a $2.36 annualized dividend and a yield of 2.56%. Idacorp’s dividend payout ratio (DPR) is 56.06%.
In other Idacorp news, VP Tessia Park sold 300 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $85.40, for a total value of $25,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven R. Keen sold 3,557 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $87.72, for a total value of $312,020.04. Following the completion of the transaction, the chief financial officer now directly owns 17,240 shares of the company’s stock, valued at approximately $1,512,292.80. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Idacorp by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 220,781 shares of the coal producer’s stock valued at $19,488,000 after acquiring an additional 5,590 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Idacorp in the 1st quarter valued at approximately $1,225,000. Royal Bank of Canada raised its holdings in Idacorp by 1.0% in the 1st quarter. Royal Bank of Canada now owns 194,361 shares of the coal producer’s stock valued at $17,156,000 after acquiring an additional 1,984 shares in the last quarter. Legal & General Group Plc raised its holdings in Idacorp by 9.0% in the 1st quarter. Legal & General Group Plc now owns 237,520 shares of the coal producer’s stock valued at $20,966,000 after acquiring an additional 19,647 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Idacorp in the 1st quarter valued at approximately $3,629,000. 76.39% of the stock is owned by hedge funds and other institutional investors.
Idacorp Company Profile
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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