IDACORP (NYSE:IDA) Issues FY 2024 Earnings Guidance

IDACORP (NYSE:IDA) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.350-5.450 for the period, compared to the consensus EPS estimate of 5.410. The company issued revenue guidance of -.

IDACORP Price Performance

IDA stock opened at $102.16 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. The business has a 50 day simple moving average of $102.81 and a 200-day simple moving average of $98.11. The firm has a market capitalization of $5.44 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 3.49 and a beta of 0.60. IDACORP has a 1 year low of $86.43 and a 1 year high of $105.25.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. The business had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same period in the prior year, the business earned $1.35 earnings per share. Equities research analysts anticipate that IDACORP will post 5.38 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm 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 $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.37%. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. IDACORP’s dividend payout ratio is presently 69.08%.

Analysts Set New Price Targets

Several research analysts recently weighed in on IDA shares. Bank of America started coverage on IDACORP in a research report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price objective 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 note on Wednesday, September 25th. StockNews.com upgraded IDACORP from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company upped their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.