Entergy (NYSE:ETR) Issues FY24 Earnings Guidance

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

Entergy Stock Performance

Shares of NYSE:ETR traded down $0.94 during trading on Friday, hitting $106.59. 599,407 shares of the stock were exchanged, compared to its average volume of 1,410,676. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.32 and a current ratio of 0.69. Entergy has a 1-year low of $87.10 and a 1-year high of $108.81. The company’s fifty day simple moving average is $103.28 and its 200-day simple moving average is $100.57. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 2.10 and a beta of 0.71.

Entergy (NYSE:ETR) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts expect that Entergy will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

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 issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Wednesday, May 1st. Entergy’s dividend payout ratio is presently 45.34%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. KeyCorp upped their price target on Entergy from $108.00 to $112.00 and gave the company an overweight rating in a research report on Friday, April 19th. Royal Bank of Canada restated an outperform rating and set a $117.00 price target on shares of Entergy in a research report on Monday, February 26th. Barclays decreased their price target on shares of Entergy from $108.00 to $107.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. 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 research report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of Entergy from $110.00 to $113.00 and gave the stock an outperform rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Entergy presently has an average rating of Moderate Buy and an average price target of $109.45.

Insider Activity

In related news, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $100.35, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Entergy news, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Marcus V. Brown sold 8,500 shares of the 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 transaction, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $1,226,685 in the last 90 days. 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.