IDACORP (NYSE:IDA – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.300-5.450 for the period, compared to the consensus EPS estimate of 5.390. The company issued revenue guidance of -. IDACORP also updated its FY24 guidance to $5.25-$5.45 EPS.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Wells Fargo & Company raised their price target on IDACORP from $94.00 to $98.00 and gave the stock an equal weight rating in a research report on Friday, May 3rd. StockNews.com upgraded IDACORP to a sell rating in a research report on Friday, April 26th. Morgan Stanley lowered their price target on IDACORP from $98.00 to $93.00 and set an equal weight rating for the company in a research report on Monday, June 24th. Finally, Mizuho raised their price target on IDACORP from $88.00 to $99.00 and gave the stock a neutral rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $96.40.
View Our Latest Stock Report on IDACORP
IDACORP Stock Performance
IDACORP (NYSE:IDA – Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). IDACORP had a net margin of 14.18% and a return on equity of 8.71%. The business had revenue of $448.94 million during the quarter, compared to analysts’ expectations of $441.21 million. During the same period in the prior year, the firm posted $1.11 EPS. On average, equities analysts forecast that IDACORP will post 5.37 earnings per share for the current fiscal year.
IDACORP Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be given a dividend of $0.83 per share. The ex-dividend date is Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.29%. IDACORP’s payout ratio is 66.67%.
Insider Activity
In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total transaction of $142,635.00. Following the completion of the transaction, the vice president now directly owns 1,650 shares in the company, valued at approximately $156,898.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.47% of the company’s stock.
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.
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