Analysts Anticipate IDACORP Inc (IDA) to Post $1.75 EPS

Wall Street analysts expect IDACORP Inc (NYSE:IDA) to announce $1.75 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for IDACORP’s earnings, with the lowest EPS estimate coming in at $1.70 and the highest estimate coming in at $1.81. IDACORP reported earnings per share of $1.80 during the same quarter last year, which indicates a negative year-over-year growth rate of 2.8%. The company is scheduled to report its next earnings report before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that IDACORP will report full year earnings of $4.28 per share for the current year, with EPS estimates ranging from $4.25 to $4.30. For the next financial year, analysts expect that the firm will report earnings of $4.38 per share, with EPS estimates ranging from $4.36 to $4.40. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for IDACORP.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 2nd. The coal producer reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.12. IDACORP had a net margin of 16.71% and a return on equity of 10.05%. The company had revenue of $339.95 million during the quarter, compared to analysts’ expectations of $328.74 million. During the same quarter in the prior year, the company earned $0.99 EPS.

Several analysts have recently weighed in on IDA shares. Wells Fargo & Co increased their price target on shares of IDACORP from $95.00 to $96.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. ValuEngine raised shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research cut shares of IDACORP from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. IDACORP presently has an average rating of “Hold” and an average price target of $92.00.

Institutional investors have recently bought and sold shares of the company. First Hawaiian Bank purchased a new stake in shares of IDACORP in the 3rd quarter valued at approximately $116,000. HL Financial Services LLC purchased a new stake in shares of IDACORP in the 2nd quarter valued at approximately $203,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of IDACORP in the 2nd quarter valued at approximately $203,000. Radnor Capital Management LLC purchased a new stake in shares of IDACORP in the 3rd quarter valued at approximately $204,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of IDACORP in the 2nd quarter valued at approximately $221,000. 78.26% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE IDA opened at $96.87 on Tuesday. IDACORP has a 12-month low of $79.59 and a 12-month high of $101.89. The stock has a market cap of $4.88 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 8.15 and a beta of 0.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.27 and a quick ratio of 1.73.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Monday, November 5th will be paid a $0.63 dividend. This is a boost from IDACORP’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.60%. IDACORP’s dividend payout ratio is 56.06%.

About IDACORP

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Earnings History and Estimates for IDACORP (NYSE:IDA)

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