Entergy (NYSE:ETR) Issues FY24 Earnings Guidance

Entergy (NYSE:ETR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.05-7.35 for the period, compared to the consensus EPS estimate of $7.21. Entergy also updated its FY 2024 guidance to 7.050-7.350 EPS.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets upped 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. KeyCorp lifted their price objective on shares of Entergy from $108.00 to $112.00 and gave the company an overweight rating in a report on Friday, April 19th. Barclays decreased their target price on shares of Entergy from $108.00 to $107.00 and set an equal weight rating on the stock in a report on Monday, April 15th. Royal Bank of Canada reiterated an outperform rating and issued a $117.00 price objective on shares of Entergy in a research note on Monday, February 26th. Finally, Scotiabank dropped their target price on shares of Entergy from $111.00 to $104.00 and set a sector perform rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Entergy presently has an average rating of Moderate Buy and a consensus price target of $109.45.

Entergy Stock Performance

ETR traded down $0.94 on Friday, reaching $106.59. The stock had a trading volume of 599,407 shares, compared to its average volume of 1,410,676. The business’s 50-day moving average price is $103.28 and its two-hundred day moving average price is $100.57. The company has a market cap of $22.73 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 2.10 and a beta of 0.71. Entergy has a 12-month low of $87.10 and a 12-month high of $108.81. The company has a current ratio of 0.69, a quick ratio of 0.32 and a debt-to-equity ratio of 1.68.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 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 firm had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that Entergy will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a yield of 4.24%. Entergy’s dividend payout ratio is currently 45.34%.

Insider Activity at Entergy

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 transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total value 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the sale, the executive vice president now owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,000 shares of company stock valued at $1,226,685. 0.39% of the stock is 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.