Q3 2017 EPS Estimates for Avista Corporation (AVA) Cut by Williams Capital
Avista Corporation (NYSE:AVA) – Research analysts at Williams Capital dropped their Q3 2017 earnings per share (EPS) estimates for shares of Avista Corporation in a report issued on Monday. Williams Capital analyst C. Ellinghaus now expects that the utilities provider will earn $0.12 per share for the quarter, down from their previous forecast of $0.13. Williams Capital currently has a “Sell” rating and a $42.00 target price on the stock. Williams Capital also issued estimates for Avista Corporation’s Q3 2018 earnings at $0.13 EPS.
Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Avista Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, June 20th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $53.00 price objective on shares of Avista Corporation in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.75.
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Avista Corporation (AVA) opened at 51.91 on Tuesday. The stock’s 50 day moving average price is $47.73 and its 200 day moving average price is $42.40. Avista Corporation has a 12-month low of $37.78 and a 12-month high of $52.83. The company has a market capitalization of $3.34 billion, a PE ratio of 24.54 and a beta of 0.42.
Avista Corporation (NYSE:AVA) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.03. The firm had revenue of $314.50 million for the quarter, compared to the consensus estimate of $326.33 million. Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. Avista Corporation’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share.
Large investors have recently bought and sold shares of the company. Swiss National Bank increased its stake in Avista Corporation by 1.0% in the first quarter. Swiss National Bank now owns 105,700 shares of the utilities provider’s stock valued at $4,128,000 after buying an additional 1,000 shares during the last quarter. Rothschild Asset Management Inc. increased its stake in Avista Corporation by 2.7% in the second quarter. Rothschild Asset Management Inc. now owns 622,434 shares of the utilities provider’s stock valued at $26,429,000 after buying an additional 16,656 shares during the last quarter. Teza Capital Management LLC bought a new stake in Avista Corporation during the first quarter valued at approximately $265,000. OppenheimerFunds Inc. increased its stake in Avista Corporation by 3.4% in the first quarter. OppenheimerFunds Inc. now owns 203,486 shares of the utilities provider’s stock valued at $7,946,000 after buying an additional 6,689 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in Avista Corporation by 6.4% in the first quarter. Citadel Advisors LLC now owns 68,540 shares of the utilities provider’s stock valued at $2,676,000 after buying an additional 4,140 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.
About Avista Corporation
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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