Entergy (NYSE:ETR) Releases 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 Price Performance

Shares of ETR opened at $106.46 on Thursday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.57 and a quick ratio of 0.32. The stock has a market cap of $22.70 billion, a PE ratio of 9.60, a P/E/G ratio of 2.12 and a beta of 0.71. The firm has a 50-day simple moving average of $103.13 and a two-hundred day simple moving average of $100.53. Entergy has a 1-year low of $87.10 and a 1-year high of $109.53.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share 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 net margin of 19.41% and a return on equity of 10.54%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. As a group, analysts forecast that Entergy will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders 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 yield of 4.25%. The ex-dividend date is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is presently 40.76%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ETR shares. KeyCorp boosted their price target on shares of Entergy from $108.00 to $112.00 and gave the stock an overweight rating in a report on Friday, April 19th. Royal Bank of Canada restated an outperform rating and set a $117.00 price objective on shares of Entergy in a research report on Monday, February 26th. 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. Scotiabank reduced their price objective on shares of Entergy from $111.00 to $104.00 and set a sector perform rating for the company in a research report on Monday. Finally, Barclays reduced their price objective on shares of Entergy from $108.00 to $107.00 and set an equal weight rating for the company in a research report on Monday, April 15th. One research 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’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $109.45.

Insiders Place Their Bets

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 shares were sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the transaction, the executive vice president now owns 16,037 shares in the company, valued at approximately $1,609,312.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were 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 SEC, which is accessible through the SEC website. 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 transaction of $200,700.00. Following the transaction, the executive vice president now directly owns 16,037 shares in the company, valued at $1,609,312.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,000 shares of company stock worth $1,226,685. 0.39% of the stock is owned by 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.