IDACORP (IDA) to Release Quarterly Earnings on Thursday

IDACORP (NYSE:IDA) will issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.01 per share for the quarter. IDACORP has set its FY24 guidance at $5.25 to $5.45 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. During the same quarter in the prior year, the business earned $0.83 EPS. On average, analysts expect IDACORP to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

IDACORP Stock Down 0.6 %

Shares of IDA traded down $0.54 on Tuesday, reaching $94.35. The stock had a trading volume of 10,475 shares, compared to its average volume of 375,341. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. IDACORP has a 12-month low of $86.43 and a 12-month high of $112.91. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 18.46 and a beta of 0.56. The company has a 50-day simple moving average of $90.99 and a 200-day simple moving average of $93.98.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders 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 yield of 3.52%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio is currently 64.59%.

Analyst Upgrades and Downgrades

IDA has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Mizuho cut their price objective 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. StockNews.com raised shares of IDACORP to a “sell” rating in a report on Friday. TheStreet cut shares of IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Guggenheim cut IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.80.

About IDACORP

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.