Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Idacorp as such a stock due to the following factors:
- IDA has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $16.4 million.
- IDA has traded 500 shares today.
- IDA is trading at a new lifetime high.
EXCLUSIVE OFFER: Get the inside scoop on opportunities in IDA with the Ticky from Trade-Ideas. See the FREE profile for IDA NOW at Trade-Ideas
More details on IDA:
IDACORP, Inc., through its subsidiary, Idaho Power Company, is engaged in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The stock currently has a dividend yield of 3.1%. IDA has a PE ratio of 17.5. Currently there is 1 analyst that rates Idacorp a buy, no analysts rate it a sell, and 2 rate it a hold.
The average volume for Idacorp has been 221,100 shares per day over the past 30 days. Idacorp has a market cap of $3.0 billion and is part of the utilities sector and utilities industry. The stock has a beta of 0.84 and a short float of 4% with 6.60 days to cover. Shares are up 18.9% year-to-date as of the close of trading on Tuesday.
rates Idacorp as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
Highlights from the ratings report include:
- IDA's revenue growth has slightly outpaced the industry average of 4.5%. Since the same quarter one year prior, revenues slightly increased by 4.5%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- Net operating cash flow has increased to $66.37 million or 10.19% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -0.70%.
- The debt-to-equity ratio is somewhat low, currently at 0.88, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Despite the fact that IDA's debt-to-equity ratio is low, the quick ratio, which is currently 0.67, displays a potential problem in covering short-term cash needs.
- Compared to where it was a year ago today, the stock is now trading at a higher level, regardless of the company's weak earnings results. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
- IDACORP INC' earnings per share from the most recent quarter came in slightly below the year earlier quarter. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, IDACORP INC increased its bottom line by earning $3.69 versus $3.37 in the prior year. For the next year, the market is expecting a contraction of 2.7% in earnings ($3.59 versus $3.69).
- You can view the full Idacorp Ratings Report.