IDACORP (NYSE:IDA) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

IDACORP (NYSE:IDA - Get Free Report) posted its earnings results on Thursday. The energy company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.06), Briefing.com reports. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The firm had revenue of $448.94 million during the quarter, compared to analyst estimates of $441.21 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. IDACORP updated its FY24 guidance to $5.25-5.45 EPS.

IDACORP Price Performance

IDA stock traded up $0.87 during trading on Friday, hitting $96.22. The company had a trading volume of 480,824 shares, compared to its average volume of 377,940. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 18.72 and a beta of 0.55. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $112.64. The business has a 50 day moving average of $91.33 and a 200 day moving average of $93.99.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, May 3rd. IDACORP's dividend payout ratio (DPR) is 64.59%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IDA. Mizuho cut their price objective on IDACORP from $99.00 to $88.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 5th. Wells Fargo & Company increased their price target on shares of IDACORP from $94.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Friday. StockNews.com raised IDACORP to a "sell" rating in a report on Friday, April 26th. Guggenheim cut IDACORP from a "buy" rating to a "neutral" rating and set a $93.00 target price on the stock. in a research report on Monday, January 22nd. Finally, Morgan Stanley raised their price objective on shares of IDACORP from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, IDACORP presently has a consensus rating of "Hold" and an average price target of $94.60.

About IDACORP

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.

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