What is Zacks Research's Forecast for IDACORP Q3 Earnings?

IDACORP, Inc. (NYSE:IDA - Free Report) - Equities researchers at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for IDACORP in a research report issued on Thursday, October 17th. Zacks Research analyst R. Department now expects that the energy company will post earnings of $2.14 per share for the quarter, up from their previous forecast of $2.08. The consensus estimate for IDACORP's current full-year earnings is $5.39 per share. Zacks Research also issued estimates for IDACORP's Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.54 EPS, Q4 2025 earnings at $0.85 EPS, FY2025 earnings at $5.76 EPS, Q1 2026 earnings at $1.14 EPS, Q2 2026 earnings at $1.56 EPS, Q3 2026 earnings at $2.35 EPS and FY2026 earnings at $6.04 EPS.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The business had revenue of $451.04 million during the quarter, compared to analysts' expectations of $420.56 million. During the same period in the previous year, the business earned $1.35 earnings per share.

IDA has been the subject of a number of other reports. Morgan Stanley upped their price objective on IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on IDACORP in a report on Friday, September 20th. They issued a "hold" rating and a $110.00 price objective for the company. Bank of America assumed coverage on IDACORP in a report on Thursday, September 12th. They set a "neutral" rating and a $110.00 target price for the company. Finally, Wells Fargo & Company increased their target price on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $104.00.

IDACORP Price Performance

Shares of IDA traded up $0.94 during midday trading on Friday, reaching $104.77. The stock had a trading volume of 190,731 shares, compared to its average volume of 341,043. The company's 50-day moving average is $102.59 and its 200 day moving average is $97.41. IDACORP has a 12-month low of $86.43 and a 12-month high of $105.24. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 3.38 and a beta of 0.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IDA. Goldman Sachs Group Inc. raised its position in IDACORP by 3.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 266,005 shares of the energy company's stock valued at $26,154,000 after purchasing an additional 8,479 shares during the last quarter. Wellington Management Group LLP raised its position in shares of IDACORP by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company's stock worth $160,700,000 after acquiring an additional 546,818 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of IDACORP in the 4th quarter worth approximately $223,000. Kapitalo Investimentos Ltda bought a new position in shares of IDACORP in the 4th quarter worth approximately $54,000. Finally, Mather Group LLC. bought a new position in shares of IDACORP in the 1st quarter worth approximately $41,000. Institutional investors own 89.10% of the company's stock.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.86 per share. This is a positive change from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.28%. IDACORP's dividend payout ratio is presently 66.67%.

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.