IDACORP, Inc. (IDA) to Post FY2020 Earnings of $4.50 Per Share, Williams Capital Forecasts
IDACORP, Inc. (NYSE:IDA) – Investment analysts at Williams Capital boosted their FY2020 earnings per share estimates for IDACORP in a research report issued to clients and investors on Monday. Williams Capital analyst C. Ellinghaus now forecasts that the coal producer will post earnings per share of $4.50 for the year, up from their prior forecast of $4.49. Williams Capital also issued estimates for IDACORP’s FY2021 earnings at $4.69 EPS.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of IDACORP from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, KeyCorp restated a “hold” rating on shares of IDACORP in a report on Friday, September 1st.
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Shares of IDACORP (NYSE:IDA) traded up 0.01% on Tuesday, hitting $88.68. The company had a trading volume of 96,011 shares. IDACORP has a 12 month low of $72.93 and a 12 month high of $91.98. The company has a 50-day moving average of $88.54 and a 200 day moving average of $85.84. The stock has a market cap of $4.47 billion, a PE ratio of 22.40 and a beta of 0.51.
IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.07). IDACORP had a return on equity of 9.20% and a net margin of 15.31%. The company had revenue of $333.01 million for the quarter. During the same period in the prior year, the company earned $1.12 EPS.
Large investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its holdings in IDACORP by 1.0% during the second quarter. Arizona State Retirement System now owns 21,200 shares of the coal producer’s stock worth $1,809,000 after buying an additional 200 shares in the last quarter. Swiss National Bank boosted its holdings in IDACORP by 0.6% during the first quarter. Swiss National Bank now owns 83,300 shares of the coal producer’s stock worth $6,911,000 after buying an additional 500 shares in the last quarter. First Trust Advisors LP boosted its holdings in IDACORP by 11.6% during the second quarter. First Trust Advisors LP now owns 250,599 shares of the coal producer’s stock worth $21,389,000 after buying an additional 25,991 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in IDACORP by 0.8% during the first quarter. Principal Financial Group Inc. now owns 203,606 shares of the coal producer’s stock worth $16,891,000 after buying an additional 1,604 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in IDACORP by 22.2% during the first quarter. Pacer Advisors Inc. now owns 4,974 shares of the coal producer’s stock worth $413,000 after buying an additional 905 shares in the last quarter. Hedge funds and other institutional investors own 75.95% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Friday, August 4th. IDACORP’s payout ratio is 55.56%.
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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