Entergy (NYSE:ETR) Issues FY 2024 Earnings Guidance

Entergy (NYSE:ETR) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.575-3.675 for the period, compared to the consensus EPS estimate of 3.630. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of recent analyst reports. UBS Group boosted their target price on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $58.00 to $75.00 in a report on Monday, November 4th. Barclays raised their target price on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Guggenheim lifted their price objective on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Bank of America cut Entergy from a “buy” rating to a “neutral” rating and upped their price objective for the company from $69.00 to $77.00 in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Entergy has an average rating of “Moderate Buy” and a consensus price target of $77.40.

Entergy Stock Up 0.9 %

Shares of NYSE:ETR traded up $0.64 on Friday, reaching $75.13. The company had a trading volume of 6,773,063 shares, compared to its average volume of 3,257,160. Entergy has a 52-week low of $48.08 and a 52-week high of $79.04. The firm’s 50 day simple moving average is $72.86 and its 200-day simple moving average is $63.41. The firm has a market capitalization of $32.22 billion, a PE ratio of 18.30, a PEG ratio of 2.48 and a beta of 0.71. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the company earned $1.64 earnings per share. As a group, analysts expect that Entergy will post 3.61 earnings per share for the current fiscal year.

Entergy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 3.19%. Entergy’s dividend payout ratio is presently 58.39%.

Insider Buying and Selling at Entergy

In other Entergy news, insider Eliecer Viamontes sold 400 shares of Entergy stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $73.50, for a total transaction of $29,400.00. Following the completion of the sale, the insider now directly owns 8,346 shares in the company, valued at $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Haley Fisackerly sold 8,268 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total transaction of $616,090.02. Following the sale, the insider now directly owns 4,032 shares in the company, valued at $300,444.48. This represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,600 shares of company stock valued at $2,125,497. 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.