Factors Likely to Have Influenced Earnings Results IDACORP (NYSE:IDA)

Earnings results for IDACORP (NYSE:IDA)

IDACORP, Inc. is expected* to report earnings on 04/29/2021 before market open. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.83. The reported EPS for the same quarter last year was $0.74.

IDACORP last announced its quarterly earnings results on February 18th, 2021. The energy company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The business earned $315.69 million during the quarter. IDACORP has generated $4.61 earnings per share over the last year and currently has a price-to-earnings ratio of 20.4. IDACORP has confirmed that its next quarterly earnings report will be published on Thursday, April 29th, 2021.

Analyst Opinion on IDACORP (NYSE:IDA)

5 Wall Street analysts have issued ratings and price targets for IDACORP in the last 12 months. Their average twelve-month price target is $102.50, predicting that the stock has a possible upside of 2.84%. The high price target for IDA is $110.00 and the low price target for IDA is $94.00. There are currently 1 sell rating, 1 hold rating and 3 buy ratings for the stock, resulting in a consensus rating of “Hold.”

IDACORP has received a consensus rating of Hold. The company’s average rating score is 2.40, and is based on 3 buy ratings, 1 hold rating, and 1 sell rating. According to analysts’ consensus price target of $102.50, IDACORP has a forecasted upside of 2.8% from its current price of $99.67. IDACORP has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: IDACORP (NYSE:IDA)

IDACORP pays a meaningful dividend of 2.88%, higher than the bottom 25% of all stocks that pay dividends. IDACORP has been increasing its dividend for 9 years. The dividend payout ratio of IDACORP is 61.61%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, IDACORP will have a dividend payout ratio of 60.43% next year. This indicates that IDACORP will be able to sustain or increase its dividend.

Insiders buying/selling: IDACORP (NYSE:IDA)

In the past three months, IDACORP insiders have not sold or bought any company stock. Only 0.53% of the stock of IDACORP is held by insiders. 75.70% of the stock of IDACORP is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of IDACORP (NYSE:IDA

Earnings for IDACORP are expected to grow by 2.17% in the coming year, from $4.60 to $4.70 per share. The P/E ratio of IDACORP is 20.42, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 23.88. The P/E ratio of IDACORP is 20.42, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 31.57. IDACORP has a PEG Ratio of 7.40. PEG Ratios above 1 indicate that a company could be overvalued. IDACORP has a P/B Ratio of 2.03. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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