The Stock Of The Week: IDACORP Inc. (IDA)

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As of Wednesday close, IDACORP Inc.’s (NYSE:IDA) stock was up $0.91, moving up 0.85 percent to $107.79. The average number of shares traded per day over the past five days has been 233,660 shares. 5 times new highs have been achieved over the past 5 days, with a $4.46 gain in that time frame. In the last twenty days, the average volume was 222,770, while in the previous 50 days, it was 206,400.

Since last month, IDA stock rose 7.79%. Shares of the company fell to $97.12 on 10/24/22, the lowest level in the past month. A 52-week high of $118.92 was reached on 04/08/22 after having rallying from a 52-week low of $93.53. Since the beginning of this year, IDA’s stock price has dropped by -4.87% or -$5.52, and marked a new high 11 times. However, the stock has declined by -9.36% since its 52-week high.


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Valuation Metrics

Right now, IDACORP Inc. (IDA) has a P/E ratio of about 21.89. The stock’s beta is 0.58. Besides these, the trailing price-to-sales (P/S) ratio of 3.39, the price-to-book (PB) ratio of 1.97.

The latest dividend of $0.79 per share was paid out, which is 5.33% more than last year’s $0.75. On Thursday October 20 2022, a $0.04 dividend increase was announced.

Financial Health

In the three months ended June 29, IDACORP Inc.’s quick ratio stood at 1.20, while its current ratio was 1.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.75, and the total debt-to-equity ratio was 0.77. On the profitability front, the trailing twelve-month gross margin is 70.30% percent. In the year ended June 29, operating margins totaled 20.70%. Based on annual data, IDA earned $329.65 million in gross profit and brought in $1.46 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 6.30%. Return on equity (ROE) for the past 12 months was 9.20%.

In IDACORP Inc.’s quarter-end financial report for June 29, it reported total debt of $2.07 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. IDA’s revenue rose 13.72% to $358.72 million during the quarter, while net income inched up to $518.01 million. While analysts expected IDACORP Inc. to report $1.31 quarterly earnings, the actual figure was $1.27 per share, beating the consensus estimate by -3.10%. During the quarter, the company generated $174.21 million in EBITDA. The liabilities of IDACORP Inc. were 4.74 billion at the end of its most recent quarter ended June 29, and its total debt was $2.15 billion. The value of shareholders’ equity is $50.56 million.

Technical Picture

This quick technical analysis looks at IDACORP Inc.’s (IDA) price momentum. With a historical volatility rate of 21.53%, the RSI 9-day stood at 67.50% on 23 November.

With respect to its five-day moving average, the current IDACORP Inc. price is up by +4.32% percent or $4.46. At present, IDA shares trade +6.93% above its 20-day simple moving average and +2.80% percent above its 100-day simple moving average. However, the stock is currently trading approximately -1.30% below its SMA50 and -0.10% below its SMA200.

Stochastic coefficient K was 93.92% and Stochastic coefficient D was 90.75%, while ATR was 2.37. Given the Stochastic reading of 98.23% for the 14-day period, the RSI (14) reading has been calculated as 61.84%. As of today, the MACD Oscillator reading stands at 2.66, while the 14-day reading stands at 3.57.

Analyst Ratings

IDACORP Inc. downgraded its rating on IDACORP Inc. (NYSE: IDA) to a Neutral in a note to investors on November 07, 2022. The analysts firm previously had a Buy rating on the stock.IDACORP Inc. (IDA) has been rated Overweight by analysts. According to 0 brokerage firms, IDA is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate IDACORP Inc. stock as buy, with 1 recommending it as overweight.

With a median target price of $111.00, the current consensus forecast for the stock is $102.00 – $120.00. Based on these forecasts, analysts predict IDACORP Inc. (IDA) will achieve an average price target of $111.00.

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