Earnings estimates for IDACORP, Inc. IDA have been revised upward in the past 30 days, reflecting analysts’ optimism in the stock. The Zacks Consensus Estimate for 2019 and 2020 earnings moved up 0.2% and 0.4% to $4.46 and $4.59 per share, respectively.
Let’s focus on the factors that make IDACORP a profitable pick.
Earnings & Surprise History
IDACORP delivered first-quarter 2019 adjusted earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 71 cents by 18.31%. The company’s average four-quarter positive earnings surprise is 13.83%.
Zacks Rank & Price Movement
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of IDACORP have gained 6.2% in the past 3 months compared with the industry’s rise of 4.2%.
Debt/Capital &Current Ratio
Currently, IDACORP has a current ratio of 2.11. Its financial strength will enable the company to meet near-term debt obligation. Its long-term debt-to-capital ratio is 43.48%, lower than the Industry’s level of 50.12%.
The ongoing economic improvements in IDACORP’s service territories have helped it to expand customer base. The company projects capital expenditure in the range of $1.4-$1.5 billion in the 2019-2023 time period. Owing to systematic investments to strengthen the generation portfolio, Idaho Power Hydroelectric Generation will be able to cater to the rising demand of expanding customer base.
Currently, the company has a dividend yield of 2.43% compared with the Zacks S&P 500 composite’s 1.97%.
Other Key Picks
Some other top-ranked stocks from the same industry are FirstEnergy Corp FE, DTE Energy Co DTE and Pinnacle West Capital Corporation PNW, each holding a Zacks Rank of 2.
FirstEnergy pulled off average positive earnings surprise of 5.09% in the last four quarters. The company’s long-term earnings growth is pegged at 6%.
DTE Energy pulled off average positive earnings surprise of 12.24% in the last four quarters. The company’s long-term earnings growth is pegged at 6%.
Pinnacle West Capital delivered average positive earnings surprise of 4.97% in the last four quarters. The company’s long-term earnings growth is pegged at 5%.
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