Analysts Anticipate IDACORP, Inc. (NYSE:IDA) to Post $1.69 EPS
Shares of IDACORP, Inc. (NYSE:IDA) have earned a consensus broker rating score of 3.00 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a hold recommendation.
Brokerages have set a one year consensus target price of $86.00 for the company and are predicting that the company will post $1.69 EPS for the current quarter, according to Zacks. Zacks has also given IDACORP an industry rank of 94 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have recently issued reports on IDA shares. Zacks Investment Research raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th.
IDACORP (IDA) traded down 0.64% during midday trading on Friday, hitting $86.78. The company’s stock had a trading volume of 163,138 shares. The firm has a market cap of $4.37 billion, a P/E ratio of 21.91 and a beta of 0.51. IDACORP has a 12 month low of $72.93 and a 12 month high of $90.67. The company’s 50 day moving average price is $85.97 and its 200 day moving average price is $84.15.
IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by $0.07. The company had revenue of $333.01 million during the quarter. IDACORP had a net margin of 15.31% and a return on equity of 9.20%. During the same quarter last year, the business earned $1.12 earnings per share. Analysts expect that IDACORP will post $4.00 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $2.20 annualized dividend and a yield of 2.54%. IDACORP’s dividend payout ratio (DPR) is 55.56%.
In related news, VP Lisa A. Grow sold 1,200 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $88.62, for a total value of $106,344.00. Following the completion of the sale, the vice president now owns 17,248 shares in the company, valued at approximately $1,528,517.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in IDA. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in IDACORP by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock valued at $156,000 after buying an additional 224 shares during the period. Advisor Group Inc. increased its stake in IDACORP by 6.5% in the second quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock valued at $156,000 after buying an additional 111 shares during the period. Riverhead Capital Management LLC increased its stake in IDACORP by 77.5% in the second quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock valued at $182,000 after buying an additional 930 shares during the period. ETRADE Capital Management LLC acquired a new stake in IDACORP during the second quarter valued at approximately $200,000. Finally, LifePlan Financial Group Inc acquired a new stake in IDACORP during the second quarter valued at approximately $205,000. Hedge funds and other institutional investors own 78.61% of the company’s stock.
IDACORP Company Profile
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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