Zacks: Analysts Expect Avista Corp (AVA) Will Post Earnings of $0.33 Per Share

Analysts forecast that Avista Corp (NYSE:AVA) will announce $0.33 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Avista’s earnings. Avista posted earnings of $0.39 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 15.4%. The company is expected to issue its next earnings report on Wednesday, August 7th.

On average, analysts expect that Avista will report full-year earnings of $1.93 per share for the current fiscal year, with EPS estimates ranging from $1.92 to $1.93. For the next fiscal year, analysts expect that the company will post earnings of $2.03 per share, with EPS estimates ranging from $2.01 to $2.05. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Avista.

Avista (NYSE:AVA) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.31). The company had revenue of $377.70 million for the quarter. Avista had a net margin of 14.26% and a return on equity of 6.48%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS.

AVA has been the topic of several recent research reports. Bank of America initiated coverage on shares of Avista in a research report on Thursday, May 9th. They issued an “underperform” rating and a $43.00 price target on the stock. Zacks Investment Research downgraded shares of Avista from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Finally, Guggenheim reiterated a “hold” rating and issued a $38.00 price target on shares of Avista in a research report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.67.

Shares of Avista stock opened at $41.76 on Monday. The company has a market cap of $2.75 billion, a P/E ratio of 19.79, a P/E/G ratio of 6.57 and a beta of 0.40. Avista has a twelve month low of $39.75 and a twelve month high of $52.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.54 and a current ratio of 0.64.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd will be given a $0.3875 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $1.55 annualized dividend and a yield of 3.71%. Avista’s payout ratio is presently 73.46%.

In other Avista news, VP Kevin J. Christie sold 780 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $41.78, for a total value of $32,588.40. Following the transaction, the vice president now directly owns 9,229 shares in the company, valued at $385,587.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Heidi B. Stanley sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $41.92, for a total transaction of $83,840.00. Following the completion of the transaction, the director now owns 12,291 shares in the company, valued at $515,238.72. The disclosure for this sale can be found here. Insiders sold 7,905 shares of company stock worth $327,788 over the last quarter. Insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund purchased a new stake in shares of Avista in the fourth quarter worth $25,000. Loomis Sayles & Co. L P purchased a new stake in shares of Avista in the first quarter worth $25,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Avista in the fourth quarter worth $26,000. WP Advisors LLC purchased a new stake in shares of Avista in the first quarter worth $26,000. Finally, Private Capital Group LLC increased its stake in shares of Avista by 1,179.2% in the first quarter. Private Capital Group LLC now owns 985 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 908 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

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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