IDACORP Inc to Post Q1 2017 Earnings of $0.56 Per Share, KeyCorp Forecasts (IDA)
IDACORP Inc (NYSE:IDA) – Stock analysts at KeyCorp issued their Q1 2017 earnings per share (EPS) estimates for IDACORP in a note issued to investors on Tuesday. KeyCorp analyst P. Ridzon forecasts that the coal producer will post earnings per share of $0.56 for the quarter.
IDACORP (NYSE:IDA) last issued its earnings results on Thursday, February 23rd. The coal producer reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The firm had revenue of $293.58 million for the quarter. IDACORP had a net margin of 15.71% and a return on equity of 9.41%. During the same period last year, the business earned $0.63 EPS.
Separately, Zacks Investment Research lowered IDACORP from a “buy” rating to a “hold” rating in a research report on Wednesday, December 28th.
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Shares of IDACORP (NYSE:IDA) opened at 84.74 on Thursday. The firm has a market cap of $4.27 billion, a PE ratio of 21.51 and a beta of 0.49. The firm’s 50-day moving average is $82.71 and its 200-day moving average is $79.28. IDACORP has a 12-month low of $69.83 and a 12-month high of $85.70.
Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in IDACORP by 0.8% in the third quarter. California State Teachers Retirement System now owns 107,020 shares of the coal producer’s stock valued at $8,378,000 after buying an additional 800 shares in the last quarter. State of Tennessee Treasury Department purchased a new stake in IDACORP during the third quarter valued at about $7,045,000. BlackRock Group LTD raised its stake in IDACORP by 16.9% in the third quarter. BlackRock Group LTD now owns 120,001 shares of the coal producer’s stock valued at $9,394,000 after buying an additional 17,380 shares in the last quarter. LS Investment Advisors LLC raised its stake in IDACORP by 17.4% in the third quarter. LS Investment Advisors LLC now owns 3,527 shares of the coal producer’s stock valued at $276,000 after buying an additional 522 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in IDACORP by 3.5% in the third quarter. Rhumbline Advisers now owns 115,962 shares of the coal producer’s stock valued at $9,078,000 after buying an additional 3,900 shares in the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Steven R. Keen sold 2,966 shares of the company’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $83.04, for a total transaction of $246,296.64. Following the sale, the chief financial officer now directly owns 21,686 shares of the company’s stock, valued at approximately $1,800,805.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company’s stock.
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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