How have IDACORP Inc. (IDA)’s performance and profitability changed over the time?

As of right now, IDACORP Inc. [IDA] is trading at $107.79, up 0.85%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The IDA shares have gain 4.32% over the last week, with a monthly amount glided 7.79%, and seem to be holding up well over a long-time horizon.

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On 3, November 2022, IDACORP, Inc. Announces Third Quarter 2022 Results, Increases 2022 Earnings Guidance. In a post published today on Yahoo Finance, IDACORP, Inc. (NYSE: IDA) reported third quarter 2022 net income attributable to IDACORP of $106.4 million, or $2.10 per diluted share, compared with $97.9 million, or $1.93 per diluted share, in the third quarter of 2021. For the first nine months of 2022, IDACORP reported net income attributable to IDACORP of $216.9 million, or $4.28 per diluted share, compared with $212.8 million, or $4.20 per diluted share, in the first nine months of 2021.

From an analyst’s perspective:

IDACORP Inc. [NYSE: IDA] stock has seen the most recent analyst activity on November 07, 2022, when BofA Securities downgraded its rating to a Neutral and also revised its price target to $103 from $115. Previously, Wells Fargo upgraded its rating to Equal Weight on May 03, 2022, and elevated its price target to $110. On March 10, 2022, Mizuho initiated with a Buy rating and assigned a price target of $119 on the stock. BofA Securities upgraded its rating to a Buy and increased its price target to $123 on November 16, 2021. Wells Fargo downgraded its rating to a Underweight and reduced its price target to $105 on October 04, 2021. Wells Fargo upgraded its rating to Equal Weight for this stock on July 15, 2021, and upped its price target to $104. In a note dated April 13, 2021, BofA Securities downgraded an Neutral rating on this stock but restated the target price of $105.

Through the last year, IDACORP Inc.’s stock price ranged from $93.53 to $118.92. Currently, Wall Street analysts expect the stock to reach $111.00 within the next 12 months. IDACORP Inc. [NYSE: IDA] shares were valued at $107.79 at the most recent close of the market. An investor can expect a potential return of 2.98% based on the average IDA price forecast.

Analyzing the IDA fundamentals

Gross Margin for this corporation currently stands at +23.51% with Operating Margin at +23.33%, Pretax Margin comes in at +19.43%, and Net Margin reading is +16.88%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 106.89 points at the first support level, and at 105.99 for the second support level. However, for the 1st resistance point, the stock is sitting at 108.33, and for the 2nd resistance point, it is at 108.87.

IDACORP Inc. [IDA] reported earnings per share of $1.27 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.31/share, meaning a difference of -$0.04 and a surprise factor of -3.10%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were $0.91 per share as compared to estimates of $0.92 per share, a difference of -$0.01 representing a surprise of -1.10%.

Ratios To Look Out For

It is important to note that IDACORP Inc. [NYSE:IDA] has a current ratio of 1.40. Also, the Quick Ratio is 1.54, while the Cash Ratio stands at 0.66. Considering the valuation of this stock, the price to sales ratio is 3.94, the price to book ratio is 2.15 and the P/E (TTM) ratio is 21.89.