We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in Store for IDACORP (IDA) This Earnings Season?
Read MoreHide Full Article
IDACORP Inc. (IDA - Free Report) will release second-quarter 2016 financial results before the market opens on Jul 28. Last quarter, this electric utility came out with a negative earnings surprise of 7.27%. Let’s see how things are shaping up at the company prior to this announcement.
Factors to Consider
In the second quarter of 2016, IDACORP is expected to see an increase in its customer base on the back of improving service territory economies. Manufacturing activities have picked up in its regions of operations leading to higher utility demand.
Also, an early redemption of bonds will generate a net tax benefit of $5.5 million for the company in the second quarter.
Weather too will play an important role during the second quarter. Historically, the second and the third are its biggest quarters because of the coming together of cooling load and irrigation load.
Our proven model does not conclusively show that IDACORP is likely to beat estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for this to happen. But, that is not the case here as you will see below.
Zacks ESP: The Most Accurate estimate is pegged at $1.02 while the Zacks Consensus Estimate is $1.09, resulting in an Earnings ESP of -6.42%.
Zacks Rank: Though IDACORP’s Zacks Rank #3 increases the predictive power of the ESP, its -6.42% ESP makes a beat unlikely this quarter.
Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Here are a few stocks in the utility space worth considering as our model shows that thy have the right combination of elements to beat estimates this quarter:
DTE Energy (DTE - Free Report) has an Earnings ESP of +2.2% and a Zacks Rank #2. It is expected to report earnings on Jul 26.
Avista Corp. (AVA - Free Report) has an Earnings ESP of +2.33% and a Zacks Rank #2. It is scheduled to report earnings on Aug 3.
Pattern Energy Group Inc. has an Earnings ESP of +100.0% and a Zacks Rank #2. It is scheduled to report earnings on Aug 8.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
What's in Store for IDACORP (IDA) This Earnings Season?
IDACORP Inc. (IDA - Free Report) will release second-quarter 2016 financial results before the market opens on Jul 28. Last quarter, this electric utility came out with a negative earnings surprise of 7.27%. Let’s see how things are shaping up at the company prior to this announcement.
Factors to Consider
In the second quarter of 2016, IDACORP is expected to see an increase in its customer base on the back of improving service territory economies. Manufacturing activities have picked up in its regions of operations leading to higher utility demand.
Also, an early redemption of bonds will generate a net tax benefit of $5.5 million for the company in the second quarter.
Weather too will play an important role during the second quarter. Historically, the second and the third are its biggest quarters because of the coming together of cooling load and irrigation load.
IDACORP INC Price and EPS Surprise
IDACORP INC Price and EPS Surprise | IDACORP INC Quote
Earnings Whispers
Our proven model does not conclusively show that IDACORP is likely to beat estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for this to happen. But, that is not the case here as you will see below.
Zacks ESP: The Most Accurate estimate is pegged at $1.02 while the Zacks Consensus Estimate is $1.09, resulting in an Earnings ESP of -6.42%.
Zacks Rank: Though IDACORP’s Zacks Rank #3 increases the predictive power of the ESP, its -6.42% ESP makes a beat unlikely this quarter.
Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Here are a few stocks in the utility space worth considering as our model shows that thy have the right combination of elements to beat estimates this quarter:
DTE Energy (DTE - Free Report) has an Earnings ESP of +2.2% and a Zacks Rank #2. It is expected to report earnings on Jul 26.
Avista Corp. (AVA - Free Report) has an Earnings ESP of +2.33% and a Zacks Rank #2. It is scheduled to report earnings on Aug 3.
Pattern Energy Group Inc. has an Earnings ESP of +100.0% and a Zacks Rank #2. It is scheduled to report earnings on Aug 8.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>