Avista (NYSE:AVA) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $1.77-1.97 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.93. Avista also updated its FY19 guidance to $1.77 to $1.97 EPS.
A number of brokerages have recently issued reports on AVA. Zacks Investment Research lowered shares of Avista from a hold rating to a sell rating in a research report on Tuesday. Bank of America started coverage on shares of Avista in a research note on Thursday, May 9th. They set an underperform rating and a $43.00 price target for the company. TheStreet downgraded shares of Avista from a b- rating to a c+ rating in a research note on Thursday, January 24th. Finally, Guggenheim reaffirmed a hold rating and issued a $38.00 target price on shares of Avista in a research note on Friday, February 8th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $40.67.
AVA traded down $0.01 during trading hours on Friday, hitting $42.35. 347,100 shares of the company’s stock were exchanged, compared to its average volume of 721,880. Avista has a 1-year low of $39.75 and a 1-year high of $52.91. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 6.65 and a beta of 0.40. The company has a current ratio of 0.64, a quick ratio of 0.54 and a debt-to-equity ratio of 0.94.
Avista (NYSE:AVA) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.31). The business had revenue of $377.70 million for the quarter. Avista had a return on equity of 6.48% and a net margin of 14.26%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. As a group, research analysts predict that Avista will post 1.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd will be paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Wednesday, May 22nd. Avista’s dividend payout ratio is currently 73.46%.
In other news, SVP Jason R. Thackston sold 2,875 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $40.04, for a total value of $115,115.00. Following the transaction, the senior vice president now directly owns 27,327 shares of the company’s stock, valued at $1,094,173.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jason R. Thackston sold 1,250 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $43.58, for a total transaction of $54,475.00. Following the transaction, the senior vice president now directly owns 23,952 shares in the company, valued at $1,043,828.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,125 shares of company stock valued at $1,227,584. Corporate insiders own 1.10% of the company’s stock.
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Avista Company Profile
Avista Corporation operates as an electric and natural gas utility company. It operates through two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.
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