Entergy (NYSE:ETR) Issues FY24 Earnings Guidance

Entergy (NYSE:ETR) updated its FY24 earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ETR. Scotiabank decreased their price target on Entergy from $111.00 to $104.00 and set a sector perform rating for the company in a report on Monday, April 22nd. Barclays decreased their price target on Entergy from $108.00 to $107.00 and set an equal weight rating for the company in a report on Monday, April 15th. KeyCorp increased their price objective on Entergy from $108.00 to $112.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Royal Bank of Canada reiterated an outperform rating and issued a $117.00 price objective on shares of Entergy in a research report on Monday, February 26th. Finally, BMO Capital Markets increased their price objective on Entergy from $110.00 to $113.00 and gave the stock an outperform rating in a research report on Monday, February 26th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $109.45.

Entergy Stock Down 1.0 %

Shares of NYSE:ETR opened at $106.50 on Friday. The stock’s 50-day moving average price is $103.41 and its two-hundred day moving average price is $100.67. 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 has a 12-month low of $87.10 and a 12-month high of $108.81. The firm has a market cap of $22.71 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 2.13 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its quarterly earnings results 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). The business had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. On average, research analysts forecast that Entergy will post 7.22 EPS for the current year.

Entergy Announces Dividend

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

Insider Buying and Selling

In related news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction that occurred 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 directly owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 through this hyperlink. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $100.35, for a total value 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 $1,609,312.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,000 shares of company stock valued at $1,226,685. Corporate insiders own 0.39% of the company’s stock.

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.