Zacks: Brokerages Expect IDACORP Inc (IDA) to Announce $0.48 Earnings Per Share
Wall Street analysts expect IDACORP Inc (NYSE:IDA) to announce earnings per share of $0.48 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for IDACORP’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.47. IDACORP posted earnings per share of $0.77 during the same quarter last year, which would indicate a negative year-over-year growth rate of 37.7%. The business is scheduled to report its next quarterly earnings report on Thursday, February 28th.
On average, analysts expect that IDACORP will report full-year earnings of $4.45 per share for the current year. For the next financial year, analysts anticipate that the company will report earnings of $4.43 per share, with EPS estimates ranging from $4.40 to $4.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for IDACORP.
IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, November 1st. The coal producer reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.26. The company had revenue of $408.80 million for the quarter, compared to the consensus estimate of $405.79 million. IDACORP had a return on equity of 10.43% and a net margin of 17.55%. During the same quarter in the prior year, the business posted $1.80 earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IDA. BlackRock Inc. boosted its position in shares of IDACORP by 11.2% during the second quarter. BlackRock Inc. now owns 8,445,654 shares of the coal producer’s stock worth $779,026,000 after buying an additional 847,770 shares during the period. Copper Rock Capital Partners LLC acquired a new stake in shares of IDACORP during the third quarter worth about $26,047,000. Victory Capital Management Inc. acquired a new stake in shares of IDACORP during the third quarter worth about $18,326,000. Wells Fargo & Company MN increased its position in shares of IDACORP by 28.4% during the second quarter. Wells Fargo & Company MN now owns 783,611 shares of the coal producer’s stock worth $72,282,000 after purchasing an additional 173,089 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its position in shares of IDACORP by 1,291.9% during the second quarter. Virginia Retirement Systems ET AL now owns 172,600 shares of the coal producer’s stock worth $15,921,000 after purchasing an additional 160,200 shares in the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.
Shares of NYSE:IDA traded down $0.59 during midday trading on Monday, hitting $98.78. The company had a trading volume of 9,516 shares, compared to its average volume of 213,673. IDACORP has a twelve month low of $79.59 and a twelve month high of $101.89. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.86 and a current ratio of 2.33. The stock has a market cap of $5.01 billion, a PE ratio of 23.46, a P/E/G ratio of 8.03 and a beta of 0.34.
The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Monday, November 5th were given a dividend of $0.63 per share. This is a positive change from IDACORP’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, November 2nd. IDACORP’s dividend payout ratio (DPR) is currently 59.86%.
IDACORP Company Profile
IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.
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