Entergy (NYSE:ETR) Releases FY 2024 Earnings Guidance

Entergy (NYSE:ETR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 7.050-7.350 for the period, compared to the consensus estimate of 7.200. The company issued revenue guidance of -. Entergy also updated its FY24 guidance to $7.05-7.35 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ETR. Barclays decreased 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 report on Monday, April 15th. BMO Capital Markets increased their price target on shares of Entergy from $110.00 to $113.00 and gave the company an outperform rating in a research report on Monday, February 26th. Scotiabank reduced their price target on shares of Entergy from $111.00 to $104.00 and set a sector perform rating on the stock in a research report on Monday. Royal Bank of Canada reiterated an outperform rating and set a $117.00 price target on shares of Entergy in a research report on Monday, February 26th. Finally, KeyCorp increased their price target on shares of Entergy from $108.00 to $112.00 and gave the company an overweight rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $109.45.

Entergy Stock Performance

Shares of ETR stock opened at $107.53 on Friday. The stock has a fifty day moving average of $103.28 and a 200 day moving average of $100.57. Entergy has a 52 week low of $87.10 and a 52 week high of $108.97. The firm has a market capitalization of $22.93 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.10 and a beta of 0.71. The company has a quick ratio of 0.32, a current ratio of 0.69 and a debt-to-equity ratio of 1.68.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.36). The firm had revenue of $31.17 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. As a group, research analysts expect that Entergy will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.20%. Entergy’s payout ratio is presently 45.34%.

Insider Activity

In other news, EVP Kimberly Cook-Nelson sold 2,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 16,037 shares in the company, valued at $1,609,312.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total value of $151,845.00. Following the transaction, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the transaction, the executive vice president now directly owns 16,037 shares in the company, valued at $1,609,312.95. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $1,226,685 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

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.