Entergy (NYSE:ETR) Releases FY24 Earnings Guidance

Entergy (NYSE:ETR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.05-7.35 for the period, compared to the consensus estimate of $7.21. Entergy also updated its FY 2024 guidance to 7.050-7.350 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Scotiabank decreased their target price on Entergy from $111.00 to $104.00 and set a sector perform rating on the stock in a research report on Monday. KeyCorp upped their price objective on Entergy from $108.00 to $112.00 and gave the company an overweight rating in a research report on Friday, April 19th. BMO Capital Markets upped their price objective on Entergy from $110.00 to $113.00 and gave the company an outperform rating in a research report on Monday, February 26th. Barclays reduced their price objective on Entergy from $108.00 to $107.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. Finally, Royal Bank of Canada restated an outperform rating and issued a $117.00 price objective on shares of Entergy in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $109.45.

Entergy Trading Down 0.7 %

NYSE ETR traded down $0.72 during trading hours on Wednesday, hitting $106.46. 2,446,413 shares of the company’s stock were exchanged, compared to its average volume of 1,411,738. The business’s 50 day moving average is $102.96 and its 200-day moving average is $100.48. Entergy has a 12-month low of $87.10 and a 12-month high of $109.53. The firm has a market capitalization of $22.70 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 2.12 and a beta of 0.71. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.32 and a current ratio of 0.57.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.27). The firm had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. Entergy had a return on equity of 10.54% and a net margin of 19.41%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. As a group, analysts anticipate that Entergy will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. The ex-dividend date is Wednesday, May 1st. This represents a $4.52 annualized dividend and a yield of 4.25%. Entergy’s dividend payout ratio is presently 40.76%.

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 1,500 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $101.23, for a total value of $151,845.00. Following the completion of the sale, the insider now owns 3,442 shares in the company, valued at $348,433.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Kimberly Cook-Nelson sold 2,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 16,037 shares in the company, valued at $1,609,312.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Deanna D. Rodriguez sold 1,500 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the completion of the sale, the insider now owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. 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. 0.54% of the stock is owned by 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.