IDACORP (NYSE:IDA) Announces Quarterly Earnings Results, Beats Expectations By $0.16 EPS

IDACORP (NYSE:IDA) posted its quarterly earnings data on Thursday. The coal producer reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.16, reports. IDACORP had a return on equity of 8.79% and a net margin of 15.52%. During the same period in the previous year, the business posted $0.52 EPS. IDACORP updated its FY 2020
Pre-Market guidance to 4.45-4.65 EPS and its FY20 guidance to $4.45-4.65 EPS.

IDA opened at $111.74 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.08 and a quick ratio of 1.67. The company’s 50 day simple moving average is $109.58 and its two-hundred day simple moving average is $108.07. IDACORP has a 1-year low of $95.93 and a 1-year high of $114.01. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 9.82 and a beta of 0.19.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Tuesday, February 4th. IDACORP’s dividend payout ratio (DPR) is 59.69%.

IDA has been the topic of several research analyst reports. Wells Fargo & Co lifted their price objective on IDACORP from $113.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America upgraded IDACORP from an “underperform” rating to a “neutral” rating in a report on Monday, November 4th. Finally, Williams Capital upgraded IDACORP from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $90.00 to $104.00 in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $110.75.

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. 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.

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Earnings History for IDACORP (NYSE:IDA)

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