FY2024 EPS Estimates for IDACORP Increased by Zacks Research

IDACORP, Inc. (NYSE:IDA) – Equities research analysts at Zacks Research increased their FY2024 earnings per share estimates for shares of IDACORP in a research note issued on Monday, December 23rd. Zacks Research analyst R. Department now anticipates that the energy company will post earnings of $5.41 per share for the year, up from their prior forecast of $5.40. The consensus estimate for IDACORP’s current full-year earnings is $5.41 per share. Zacks Research also issued estimates for IDACORP’s Q4 2024 earnings at $0.63 EPS, Q2 2025 earnings at $1.70 EPS, Q3 2025 earnings at $2.25 EPS and FY2025 earnings at $5.84 EPS.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price objective on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and increased their price target for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group initiated coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $111.00.

IDACORP Trading Up 0.3 %

IDA opened at $110.45 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The company’s 50 day moving average price is $111.89 and its two-hundred day moving average price is $103.37. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.51 and a beta of 0.64.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). The firm had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter last year, the firm posted $2.07 earnings per share.

Institutional Trading of IDACORP

Large investors have recently modified their holdings of the stock. Algert Global LLC lifted its position in shares of IDACORP by 42.5% during the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock valued at $3,648,000 after acquiring an additional 10,550 shares during the period. Edgestream Partners L.P. acquired a new position in shares of IDACORP during the second quarter valued at about $1,833,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of IDACORP by 67.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after purchasing an additional 19,274 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of IDACORP in the 3rd quarter valued at about $3,228,000. Finally, XTX Topco Ltd bought a new stake in IDACORP in the 2nd quarter valued at about $577,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a $0.86 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 3.11%. IDACORP’s payout ratio is 63.82%.

IDACORP Company Profile

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.