Avangrid Inc. (AGR) Scheduled to Post Quarterly Earnings on Tuesday
Avangrid Inc. (NYSE:AGR) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, November 22nd.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.24. The company earned $1.42 billion during the quarter, compared to the consensus estimate of $1.58 billion. Avangrid had a net margin of 9.14% and a return on equity of 3.32%. Avangrid’s revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. On average, analysts expect Avangrid to post $1.97 EPS for the current fiscal year and $2.23 EPS for the next fiscal year.
Avangrid Inc. (NYSE:AGR) opened at 37.03 on Monday. The company has a market cap of $11.44 billion and a PE ratio of 21.32. Avangrid Inc. has a one year low of $32.45 and a one year high of $46.74. The stock has a 50 day moving average price of $39.82 and a 200 day moving average price of $42.22.
Institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its position in shares of Avangrid by 7.6% in the second quarter. Sei Investments Co. now owns 3,077 shares of the company’s stock valued at $142,000 after buying an additional 218 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Avangrid during the third quarter valued at $205,000. Gotham Asset Management LLC bought a new position in shares of Avangrid during the third quarter valued at $213,000. Cetera Advisor Networks LLC bought a new position in shares of Avangrid during the third quarter valued at $216,000. Finally, Principal Financial Group Inc. bought a new position in shares of Avangrid during the third quarter valued at $296,000. Hedge funds and other institutional investors own 13.22% of the company’s stock.
AGR has been the topic of a number of recent research reports. Guggenheim began coverage on shares of Avangrid in a report on Thursday, September 8th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lowered shares of Avangrid from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $44.00 to $41.00 in a report on Friday, September 23rd. Finally, Zacks Investment Research lowered shares of Avangrid from a “hold” rating to a “sell” rating in a report on Friday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $41.75.
Avangrid Company Profile
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
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