Entergy (NYSE:ETR) Updates FY 2024 Earnings Guidance

Entergy (NYSE:ETR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 7.050-7.350 for the period, compared to the consensus earnings per share estimate of 7.200. The company issued revenue guidance of -. Entergy also updated its FY24 guidance to $7.05-7.35 EPS.

Entergy Trading Down 1.0 %

Shares of Entergy stock opened at $106.50 on Friday. Entergy has a 12-month low of $87.10 and a 12-month high of $108.81. The stock has a market cap of $22.71 billion, a P/E ratio of 10.68, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a quick ratio of 0.32, a current ratio of 0.69 and a debt-to-equity ratio of 1.68. The business’s 50 day moving average is $103.41 and its 200-day moving average is $100.67.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that Entergy will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is presently 45.34%.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of recent analyst reports. Scotiabank decreased their target price on Entergy from $111.00 to $104.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. KeyCorp boosted their target price on Entergy from $108.00 to $112.00 and gave the stock an overweight rating in a report on Friday, April 19th. BMO Capital Markets boosted their target price on Entergy from $110.00 to $113.00 and gave the stock an outperform rating in a report on Monday, February 26th. Royal Bank of Canada reissued an outperform rating and set a $117.00 target price on shares of Entergy in a report on Monday, February 26th. Finally, Barclays decreased their target price on Entergy from $108.00 to $107.00 and set an equal weight rating on the stock in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $109.45.

Insider Buying and Selling at Entergy

In other Entergy news, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $100.35, for a total value of $200,700.00. Following the transaction, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the completion of the sale, the executive vice president now directly owns 9,911 shares in the company, valued at approximately $1,019,247.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $100.35, for a total value of $200,700.00. Following the sale, the executive vice president now owns 16,037 shares of the company’s stock, valued at $1,609,312.95. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $1,226,685 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.