Zacks Research Has Weak Outlook for Entergy FY2024 Earnings

Entergy Corporation (NYSE:ETR) – Equities research analysts at Zacks Research lowered their FY2024 EPS estimates for Entergy in a report issued on Thursday, November 21st. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings of $7.20 per share for the year, down from their previous forecast of $7.21. The consensus estimate for Entergy’s current full-year earnings is $7.21 per share. Zacks Research also issued estimates for Entergy’s Q4 2024 earnings at $1.21 EPS, Q1 2025 earnings at $1.29 EPS, Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $3.10 EPS, FY2025 earnings at $7.72 EPS, Q1 2026 earnings at $1.63 EPS and Q3 2026 earnings at $2.99 EPS.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same quarter in the previous year, the business earned $3.27 earnings per share.

Other research analysts also recently issued reports about the stock. UBS Group lifted their target price on shares of Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. upped their price objective on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. KeyCorp raised their target price on Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. BMO Capital Markets lowered their price target on Entergy from $166.00 to $159.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. Finally, Mizuho lifted their price objective on Entergy from $138.00 to $165.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.42.

Entergy Stock Performance

Shares of ETR stock opened at $151.06 on Monday. The company has a market capitalization of $32.39 billion, a P/E ratio of 18.40, a PEG ratio of 2.53 and a beta of 0.71. Entergy has a fifty-two week low of $96.15 and a fifty-two week high of $156.85. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The stock has a 50 day moving average price of $137.74 and a two-hundred day moving average price of $121.65.

Institutional Trading of Entergy

Institutional investors and hedge funds have recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Entergy during the third quarter valued at $27,000. Fortitude Family Office LLC lifted its stake in Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares during the period. Cetera Trust Company N.A purchased a new stake in shares of Entergy during the 3rd quarter valued at about $29,000. Iron Horse Wealth Management LLC bought a new stake in shares of Entergy in the second quarter worth approximately $25,000. Finally, Coastline Trust Co purchased a new position in shares of Entergy during the third quarter valued at approximately $31,000. 88.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Entergy

In other news, insider Eliecer Viamontes sold 5,166 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the sale, the insider now directly owns 5,117 shares of the company’s stock, valued at approximately $614,040. This represents a 50.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,092,241.93. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,472 shares of company stock valued at $5,076,328. 0.39% of the stock is currently owned by company insiders.

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.18%. This is a boost from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy’s dividend payout ratio is presently 58.47%.

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.