IDACORP (IDA) Scheduled to Post Earnings on Thursday

IDACORP (NYSE:IDA - Get Free Report) is set to announce its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $2.19 per share for the quarter. IDACORP has set its FY24 guidance at $5.25-$5.45 EPS and its FY 2024 guidance at 5.300-5.450 EPS.Investors that wish to register for the company's conference call can do so using this link.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.34. The company had revenue of $451.04 million during the quarter, compared to the consensus estimate of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same quarter in the previous year, the firm posted $1.35 earnings per share. 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 0.2 %

NYSE IDA traded down $0.20 during midday trading on Thursday, hitting $104.78. 222,641 shares of the company traded hands, compared to its average volume of 339,260. IDACORP has a 52 week low of $86.43 and a 52 week high of $105.25. The company's 50-day simple moving average is $102.74 and its 200-day simple moving average is $97.71. The company has a market cap of $5.58 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 3.38 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be given a dividend of $0.86 per share. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.28%. This is an increase from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio (DPR) is presently 69.08%.

Analyst Ratings Changes

Several research firms have commented on IDA. Bank of America began coverage on shares of IDACORP in a research report on Thursday, September 12th. They set a "neutral" rating and a $110.00 price target for the company. Jefferies Financial Group assumed coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a "hold" rating and a $110.00 target price for the company. Morgan Stanley upped their price target on IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company increased their price objective on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, IDACORP presently has an average rating of "Hold" and an average price target of $104.83.

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.