Zacks: Brokerages Anticipate Avista Corporation (AVA) Will Post Earnings of $0.12 Per Share
Analysts expect that Avista Corporation (NYSE:AVA) will report earnings of $0.12 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Avista Corporation’s earnings. Avista Corporation posted earnings of $0.19 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 36.8%. The company is expected to issue its next earnings report on Tuesday, November 7th.
On average, analysts expect that Avista Corporation will report full-year earnings of $1.95 per share for the current year. For the next fiscal year, analysts anticipate that the business will post earnings of $2.05 per share, with EPS estimates ranging from $1.98 to $2.11. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Avista Corporation.
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 Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $314.50 million during 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%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share.
A number of research firms recently issued reports on AVA. Zacks Investment Research downgraded shares of Avista Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. BidaskClub raised shares of Avista Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of Avista Corporation in a report on Friday, July 21st. Finally, Williams Capital downgraded shares of Avista Corporation from a “hold” rating to a “sell” rating and raised their price objective for the stock from $38.00 to $42.00 in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $47.75.
Avista Corporation (AVA) opened at 51.20 on Thursday. 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 $3.30 billion, a PE ratio of 24.21 and a beta of 0.42. The firm has a 50-day moving average of $49.67 and a 200 day moving average of $43.10.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.3575 per share. This represents a $1.43 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Tuesday, August 29th. Avista Corporation’s payout ratio is 67.77%.
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A number of large investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its stake in Avista Corporation by 38.8% in the second quarter. Riverhead Capital Management LLC now owns 2,498 shares of the utilities provider’s stock worth $106,000 after buying an additional 698 shares during the last quarter. Tyers Asset Management LLC boosted its stake in Avista Corporation by 11.5% in the first quarter. Tyers Asset Management LLC now owns 2,640 shares of the utilities provider’s stock worth $103,000 after buying an additional 272 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Avista Corporation by 28.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the utilities provider’s stock worth $114,000 after buying an additional 599 shares during the last quarter. Advisor Group Inc. boosted its stake in Avista Corporation by 16.3% in the second quarter. Advisor Group Inc. now owns 2,883 shares of the utilities provider’s stock worth $123,000 after buying an additional 403 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Avista Corporation by 73.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,901 shares of the utilities provider’s stock worth $113,000 after buying an additional 1,230 shares during the last quarter. Institutional investors own 69.68% of the company’s stock.
Avista Corporation Company Profile
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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