IDACORP (NYSE:IDA) Announces Earnings Results, Misses Expectations By $0.12 EPS

IDACORP (NYSE:IDA) posted its earnings results on Thursday. The coal producer reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.12), Briefing.com reports. IDACORP had a net margin of 16.16% and a return on equity of 9.43%. The company had revenue of $316.90 million during the quarter, compared to analysts’ expectations of $327.38 million. During the same period in the previous year, the company posted $1.23 EPS. IDACORP updated its FY 2019 guidance to $4.35-4.50 EPS and its FY19 guidance to $4.35-4.50 EPS.

IDA traded down $0.19 during trading on Friday, hitting $102.84. The company’s stock had a trading volume of 250,820 shares, compared to its average volume of 322,466. The business has a 50 day simple moving average of $103.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.72 and a current ratio of 2.11. The stock has a market cap of $5.23 billion, a PE ratio of 22.90, a PEG ratio of 6.10 and a beta of 0.29. IDACORP has a twelve month low of $89.31 and a twelve month high of $106.13.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 5th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.52 annualized dividend and a yield of 2.45%. IDACORP’s dividend payout ratio (DPR) is presently 56.12%.

In other IDACORP news, VP Tessia Park sold 280 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $103.29, for a total value of $28,921.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Liberty Wealth Management LLC acquired a new stake in shares of IDACORP during the 4th quarter worth $34,000. Lavaca Capital LLC increased its holdings in shares of IDACORP by 37.1% during the 1st quarter. Lavaca Capital LLC now owns 399 shares of the coal producer’s stock worth $40,000 after buying an additional 108 shares during the last quarter. Enterprise Financial Services Corp increased its holdings in shares of IDACORP by 176.9% during the 1st quarter. Enterprise Financial Services Corp now owns 407 shares of the coal producer’s stock worth $41,000 after buying an additional 260 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of IDACORP during the 1st quarter worth $50,000. Finally, Hanson & Doremus Investment Management increased its holdings in shares of IDACORP by 108.4% during the 1st quarter. Hanson & Doremus Investment Management now owns 521 shares of the coal producer’s stock worth $52,000 after buying an additional 271 shares during the last quarter. Institutional investors own 76.35% of the company’s stock.

A number of equities research analysts recently issued reports on IDA shares. ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating and set a $108.00 price target for the company. in a report on Friday, July 26th.

IDACORP Company Profile

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

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Earnings History for IDACORP (NYSE:IDA)

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