Wall Street analysts expect IDACORP Inc (NYSE:IDA) to report earnings per share (EPS) of $1.17 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for IDACORP’s earnings. IDACORP posted earnings per share of $1.23 in the same quarter last year, which would indicate a negative year over year growth rate of 4.9%. The company is scheduled to report its next earnings results before the market opens on Thursday, August 1st.
On average, analysts expect that IDACORP will report full-year earnings of $4.46 per share for the current year, with EPS estimates ranging from $4.44 to $4.50. For the next financial year, analysts forecast that the firm will report earnings of $4.58 per share, with EPS estimates ranging from $4.52 to $4.69. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for IDACORP.
IDACORP (NYSE:IDA) last issued its earnings results on Thursday, May 2nd. The coal producer reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.13. IDACORP had a return on equity of 9.89% and a net margin of 16.54%. The company had revenue of $350.32 million during the quarter, compared to the consensus estimate of $298.14 million. During the same period in the previous year, the company posted $0.72 EPS.
Several brokerages have weighed in on IDA. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Zacks Investment Research raised Grana y Montero SAA from a “sell” rating to a “hold” rating in a report on Monday, June 10th.
IDA traded down $2.09 during trading on Friday, hitting $102.50. The stock had a trading volume of 243,435 shares, compared to its average volume of 716,939. The stock has a 50 day simple moving average of $103.18. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 6.12 and a beta of 0.31. IDACORP has a one year low of $89.31 and a one year high of $106.13. The company has a current ratio of 2.11, a quick ratio of 1.72 and a debt-to-equity ratio of 0.77.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 5th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.46%. IDACORP’s payout ratio is presently 56.12%.
In other IDACORP news, VP Tessia Park sold 280 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $103.29, for a total value of $28,921.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in IDACORP by 0.4% during the 1st quarter. BlackRock Inc. now owns 8,298,239 shares of the coal producer’s stock worth $826,005,000 after buying an additional 29,568 shares during the period. Northern Trust Corp raised its stake in IDACORP by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,117,887 shares of the coal producer’s stock worth $111,274,000 after buying an additional 7,295 shares during the period. Geode Capital Management LLC raised its stake in IDACORP by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 547,294 shares of the coal producer’s stock worth $50,931,000 after buying an additional 37,621 shares during the period. Wells Fargo & Company MN raised its stake in IDACORP by 6.9% during the 1st quarter. Wells Fargo & Company MN now owns 535,858 shares of the coal producer’s stock worth $53,339,000 after buying an additional 34,428 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of IDACORP by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 378,863 shares of the coal producer’s stock worth $35,256,000 after purchasing an additional 7,007 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon; 3 natural gas-fired plants in southern Idaho; and interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.
Featured Article: What is cost of equity?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for IDACORP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDACORP and related companies with MarketBeat.com's FREE daily email newsletter.