Entergy (NYSE:ETR) Announces Quarterly Earnings Results, Misses Expectations By $0.27 EPS

Entergy (NYSE:ETR - Get Free Report) announced its quarterly earnings data on Wednesday. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.27), RTT News reports. Entergy had a net margin of 19.41% and a return on equity of 10.54%. The firm had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. Entergy updated its FY 2024 guidance to 7.050-7.350 EPS and its FY24 guidance to $7.05-7.35 EPS.

Entergy Trading Down 0.7 %

ETR traded down $0.72 during trading on Wednesday, reaching $106.46. 2,446,413 shares of the stock traded hands, compared to its average volume of 1,411,738. The stock's 50-day moving average is $102.96 and its 200 day moving average is $100.48. Entergy has a 12 month low of $87.10 and a 12 month high of $109.53. The stock has a market capitalization of $22.70 billion, a PE ratio of 9.60, a P/E/G ratio of 2.12 and a beta of 0.71. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.57.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be given a dividend of $1.13 per share. The ex-dividend date is Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a yield of 4.25%. Entergy's dividend payout ratio (DPR) is currently 40.76%.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $117.00 target price on shares of Entergy in a research note on Monday, February 26th. BMO Capital Markets boosted their target price on shares of Entergy from $110.00 to $113.00 and gave the stock an "outperform" rating in a research note on Monday, February 26th. Barclays reduced their price objective on shares of Entergy from $108.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Monday, April 15th. Scotiabank reduced their price objective on shares of Entergy from $111.00 to $104.00 and set a "sector perform" rating on the stock in a research note on Monday. Finally, KeyCorp boosted their price objective on shares of Entergy from $108.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $109.45.

Insider Activity

In other news, EVP Kimberly Cook-Nelson sold 2,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.35, for a total transaction of $200,700.00. Following the transaction, the executive vice president now owns 16,037 shares in the company, valued at $1,609,312.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Deanna D. Rodriguez sold 1,500 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the sale, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the sale, the executive vice president now owns 16,037 shares in the company, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,000 shares of company stock worth $1,226,685. Company insiders own 0.54% of the company's stock.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.