Equities research analysts expect IDACORP Inc (NYSE:IDA) to report earnings of $0.48 per share for the current quarter, according to Zacks. Zero analysts have made estimates for IDACORP’s earnings. The lowest EPS estimate is $0.47 and the highest is $0.48. IDACORP reported earnings per share of $0.77 in the same quarter last year, which would indicate a negative year over year growth rate of 37.7%. The company is scheduled to report its next quarterly earnings results on Thursday, February 28th.
On average, analysts expect that IDACORP will report full-year earnings of $4.38 per share for the current fiscal year, with EPS estimates ranging from $4.25 to $4.45. For the next financial year, analysts expect that the firm will post earnings of $4.41 per share, with EPS estimates ranging from $4.37 to $4.45. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover IDACORP.
IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, November 1st. The coal producer reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.26. The company had revenue of $408.80 million during the quarter, compared to analysts’ expectations of $405.79 million. IDACORP had a return on equity of 10.43% and a net margin of 17.55%. During the same period last year, the business earned $1.80 earnings per share.
IDA has been the subject of a number of recent analyst reports. Zacks Investment Research cut IDACORP from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Wells Fargo & Co boosted their price objective on IDACORP from $95.00 to $96.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Finally, ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $92.00.
Several institutional investors have recently bought and sold shares of IDA. BlackRock Inc. increased its position in shares of IDACORP by 11.2% during the second quarter. BlackRock Inc. now owns 8,445,654 shares of the coal producer’s stock worth $779,026,000 after purchasing an additional 847,770 shares in the last quarter. Copper Rock Capital Partners LLC purchased a new stake in shares of IDACORP during the third quarter worth approximately $26,047,000. Victory Capital Management Inc. purchased a new stake in shares of IDACORP during the third quarter worth approximately $18,326,000. Wells Fargo & Company MN increased its position in shares of IDACORP by 28.4% during the second quarter. Wells Fargo & Company MN now owns 783,611 shares of the coal producer’s stock worth $72,282,000 after purchasing an additional 173,089 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its position in shares of IDACORP by 1,291.9% during the second quarter. Virginia Retirement Systems ET AL now owns 172,600 shares of the coal producer’s stock worth $15,921,000 after purchasing an additional 160,200 shares in the last quarter. Institutional investors and hedge funds own 78.52% of the company’s stock.
IDA stock traded up $0.30 during trading on Friday, hitting $98.00. 194,108 shares of the company traded hands, compared to its average volume of 318,405. The company has a current ratio of 2.33, a quick ratio of 1.86 and a debt-to-equity ratio of 0.77. The stock has a market cap of $4.94 billion, a P/E ratio of 23.28, a P/E/G ratio of 7.92 and a beta of 0.33. IDACORP has a 1 year low of $79.59 and a 1 year high of $101.89.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Monday, November 5th will be given a $0.63 dividend. The ex-dividend date is Friday, November 2nd. This is a boost from IDACORP’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.57%. IDACORP’s payout ratio is 59.86%.
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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