Entergy (NYSE:ETR) Updates FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Scotiabank reduced their target price on Entergy from $111.00 to $104.00 and set a sector perform rating for the company in a research report on Monday, April 22nd. BMO Capital Markets boosted their target price on Entergy from $110.00 to $113.00 and gave the stock an outperform rating in a research report on Monday, February 26th. KeyCorp boosted their target price on Entergy from $108.00 to $112.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Royal Bank of Canada restated an outperform rating and set a $117.00 target price on shares of Entergy in a research report on Monday, February 26th. Finally, Barclays reduced their target price on Entergy from $108.00 to $107.00 and set an equal weight rating for the company in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Entergy presently has a consensus rating of Moderate Buy and a consensus price target of $109.45.

Entergy Trading Down 1.0 %

NYSE ETR opened at $106.50 on Friday. Entergy has a 1-year low of $87.10 and a 1-year high of $108.81. The company has a current ratio of 0.69, a quick ratio of 0.32 and a debt-to-equity ratio of 1.68. The stock has a 50-day moving average of $103.41 and a 200-day moving average of $100.67. The firm has a market cap of $22.71 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

Entergy (NYSE:ETR) last released its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The company had revenue of $31.17 billion during the quarter, compared to the consensus estimate of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. As a group, sell-side analysts forecast that Entergy will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is 45.34%.

Insider Buying and Selling at Entergy

In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of the company’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 transaction of $151,845.00. Following the transaction, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the transaction, the executive vice president now owns 9,911 shares in the company, valued at approximately $1,019,247.24. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $1,226,685 in the last 90 days. Insiders own 0.39% of the company’s stock.

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.