Brokerages Expect IDACORP, Inc. (IDA) to Announce $0.68 EPS
Shares of IDACORP, Inc. (NYSE:IDA) have received a consensus broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold recommendation.
Brokers have set a 12-month consensus price objective of $89.00 for the company and are anticipating that the company will post $0.68 EPS for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 191 out of 265 based on the ratings given to related companies.
IDA has been the topic of a number of analyst reports. ValuEngine raised shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. KeyCorp reissued a “hold” rating on shares of IDACORP in a research note on Friday, October 20th. Zacks Investment Research cut shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, BidaskClub raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th.
IDACORP (NYSE:IDA) last posted its earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.14. The business had revenue of $408.32 million for the quarter. IDACORP had a net margin of 15.46% and a return on equity of 9.44%. During the same period in the previous year, the firm earned $1.65 EPS. equities research analysts predict that IDACORP will post 4.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 6th will be paid a $0.59 dividend. The ex-dividend date is Friday, November 3rd. This represents a $2.36 dividend on an annualized basis and a yield of 2.41%. This is a boost from IDACORP’s previous quarterly dividend of $0.55. IDACORP’s payout ratio is presently 57.42%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in IDACORP by 0.5% during the second quarter. BlackRock Inc. now owns 7,852,408 shares of the coal producer’s stock worth $670,203,000 after buying an additional 42,058 shares during the last quarter. Vanguard Group Inc. grew its stake in IDACORP by 1.4% during the second quarter. Vanguard Group Inc. now owns 4,644,039 shares of the coal producer’s stock worth $396,368,000 after buying an additional 64,740 shares during the last quarter. State Street Corp grew its stake in IDACORP by 3.4% during the second quarter. State Street Corp now owns 1,773,322 shares of the coal producer’s stock worth $151,353,000 after buying an additional 58,673 shares during the last quarter. Northern Trust Corp grew its stake in IDACORP by 0.9% during the second quarter. Northern Trust Corp now owns 1,519,093 shares of the coal producer’s stock worth $129,655,000 after buying an additional 12,984 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in IDACORP by 3.9% during the third quarter. Schroder Investment Management Group now owns 1,070,838 shares of the coal producer’s stock worth $94,855,000 after buying an additional 39,705 shares during the last quarter. 75.59% of the stock is currently owned by institutional investors and hedge funds.
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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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