IDACORP (NYSE:IDA) Issues FY24 Earnings Guidance

IDACORP (NYSE:IDA - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.25-5.45 for the period, compared to the consensus earnings per share estimate of $5.38.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of analyst reports. Mizuho decreased their target price on shares of IDACORP from $99.00 to $88.00 and set a neutral rating on the stock in a research report on Tuesday, March 5th. Morgan Stanley lifted their price objective on IDACORP from $92.00 to $95.00 and gave the company an equal weight rating in a research report on Thursday, March 21st. Guggenheim downgraded 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. Wells Fargo & Company lowered their price target on IDACORP from $100.00 to $94.00 and set an equal weight rating for the company in a report on Friday, February 16th. Finally, TheStreet lowered shares of IDACORP from a b- rating to a c+ rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $93.80.

IDACORP Stock Down 0.6 %

IDACORP stock traded down $0.58 during midday trading on Thursday, hitting $95.39. 398,892 shares of the company were exchanged, compared to its average volume of 376,730. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $112.64. The company's fifty day moving average price is $91.21 and its 200-day moving average price is $93.98. The company has a market cap of $4.84 billion, a PE ratio of 18.68 and a beta of 0.55.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, research analysts predict that IDACORP will post 5.32 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, May 3rd. IDACORP's dividend payout ratio (DPR) is 64.59%.

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.