IDACORP (NYSE:IDA) Issues FY24 Earnings Guidance

IDACORP (NYSE:IDA - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.35-5.45 for the period, compared to the consensus estimate of $5.41. IDACORP also updated its FY 2024 guidance to 5.350-5.450 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IDA. Bank of America started coverage on IDACORP in a report on Thursday, September 12th. They issued a "neutral" rating and a $110.00 price target for the company. StockNews.com upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday. Jefferies Financial Group assumed coverage on IDACORP in a research report on Friday, September 20th. They set a "hold" rating and a $110.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Finally, Morgan Stanley upped their target price on shares of IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $104.83.

IDACORP Stock Up 1.3 %

IDACORP stock traded up $1.32 during mid-day trading on Thursday, reaching $103.48. The company's stock had a trading volume of 522,147 shares, compared to its average volume of 337,789. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. IDACORP has a 12 month low of $86.43 and a 12 month high of $105.25. The business's 50 day simple moving average is $102.81 and its 200 day simple moving average is $98.11. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.60.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The company had revenue of $451.04 million for the quarter, compared to analyst estimates of $420.56 million. During the same period in the previous year, the business earned $1.35 EPS. As a group, research analysts anticipate that IDACORP will post 5.38 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, November 5th. This is a boost from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio is 69.08%.

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.