IDACORP (IDA) Set to Announce Earnings on Thursday

IDACORP (NYSE:IDA) is scheduled to announce its earnings results 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 interested in participating in the company’s conference call can do so using this link.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The business had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. During the same quarter last year, the firm posted $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 Performance

IDA opened at $94.34 on Thursday. IDACORP has a 1-year low of $86.43 and a 1-year high of $112.96. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 18.35 and a beta of 0.56. The company’s fifty day moving average price is $90.49 and its two-hundred day moving average price is $94.05. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders 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 dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s payout ratio is presently 64.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IDA shares. Morgan Stanley lifted their price target on IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Wells Fargo & Company cut their target price on IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. TheStreet lowered IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Guggenheim downgraded shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a report on Monday, January 22nd. Finally, Mizuho reduced their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, IDACORP has an average rating of “Hold” and a consensus price target of $93.80.

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.