IDACORP Inc. (NYSE: IDA) has reported earnings for its first fiscal quarter (ending March 31) of $0.95 versus $1.11 for the same period a year ago — a decline of -14%. This result fell short of the consensus estimate of $1.18 by $-0.23. E.P.S. were $5.00 for the latest four quarters through March 31 versus $5.31 for the same period a year ago — a decline of -6%.
Recent Price Action
On 5/2/24, IDACORP Inc. (NYSE: IDA) stock declined slightly by -0.6%, closing at $95.35. Trading volume in this decline was normal. Relative to the market the stock has been weak over the last nine months but has risen 1.1% during the last week.
Current PriceTarget Research Rating
IDA’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
IDACORP has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. IDACORP has a neutral Appreciation Score of 58 and a slightly negative Power Rating of 34, producing the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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