Zacks: Brokerages Expect IDACORP Inc (IDA) to Announce $1.75 Earnings Per Share

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

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

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

A number of analysts have recently commented on IDA shares. Zacks Investment Research upgraded IDACORP from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Wednesday, May 30th. Williams Capital downgraded IDACORP from a “hold” rating to a “sell” rating and set a $80.00 price objective for the company. in a report on Monday, June 4th. Finally, ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $90.67.

Shares of IDA stock traded down $0.03 on Wednesday, reaching $99.70. 131,900 shares of the stock were exchanged, compared to its average volume of 281,394. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 8.40 and a beta of 0.27. The company has a quick ratio of 1.73, a current ratio of 2.27 and a debt-to-equity ratio of 0.80. IDACORP has a 1-year low of $79.59 and a 1-year high of $100.89.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 30th. Investors of record on Monday, August 6th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $2.36 dividend on an annualized basis and a yield of 2.37%. IDACORP’s dividend payout ratio (DPR) is 56.06%.

In related news, Director Christine King sold 2,900 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $87.21, for a total transaction of $252,909.00. Following the completion of the sale, the director now directly owns 13,381 shares of the company’s stock, valued at approximately $1,166,957.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in IDACORP by 18.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,009 shares of the coal producer’s stock worth $353,000 after purchasing an additional 627 shares during the period. TD Asset Management Inc. boosted its position in IDACORP by 4.1% during the 2nd quarter. TD Asset Management Inc. now owns 16,719 shares of the coal producer’s stock worth $1,542,000 after purchasing an additional 660 shares during the period. Oregon Public Employees Retirement Fund boosted its position in IDACORP by 3.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,576 shares of the coal producer’s stock worth $1,806,000 after purchasing an additional 670 shares during the period. Envestnet Asset Management Inc. boosted its position in IDACORP by 26.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,726 shares of the coal producer’s stock worth $344,000 after purchasing an additional 777 shares during the period. Finally, Strs Ohio boosted its position in IDACORP by 9.6% in the 2nd quarter. Strs Ohio now owns 9,100 shares of the coal producer’s stock valued at $839,000 after buying an additional 800 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

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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