$0.33 EPS Expected for Avista Corp (NYSE:AVA) This Quarter

Equities analysts forecast that Avista Corp (NYSE:AVA) will report earnings per share (EPS) of $0.33 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Avista’s earnings. Avista reported earnings per share of $0.39 during the same quarter last year, which would suggest a negative year-over-year growth rate of 15.4%. The company is expected to report its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Avista will report full-year earnings of $1.90 per share for the current year, with EPS estimates ranging from $1.85 to $1.93. For the next year, analysts anticipate that the business will report earnings of $2.00 per share, with EPS estimates ranging from $1.95 to $2.05. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Avista.

Avista (NYSE:AVA) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.31). The company had revenue of $377.70 million during the quarter. Avista had a net margin of 14.26% and a return on equity of 6.48%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 EPS.

A number of equities analysts have recently issued reports on the stock. TheStreet upgraded shares of Avista from a “c+” rating to a “b-” rating in a report on Monday, June 10th. KeyCorp reiterated an “underweight” rating and issued a $35.00 price target on shares of Avista in a report on Wednesday, June 5th. Zacks Investment Research downgraded shares of Avista from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Finally, Bank of America assumed coverage on shares of Avista in a report on Thursday, May 9th. They issued an “underperform” rating and a $43.00 price target for the company. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $39.25.

Shares of AVA opened at $44.75 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.64 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $2.95 billion, a PE ratio of 25.50, a P/E/G ratio of 7.22 and a beta of 0.41. Avista has a 52-week low of $39.75 and a 52-week high of $52.91.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 23rd were paid a $0.3875 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $1.55 dividend on an annualized basis and a yield of 3.46%. Avista’s payout ratio is 73.46%.

In related news, Chairman Scott L. Morris sold 23,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $44.33, for a total value of $1,019,590.00. Following the sale, the chairman now directly owns 198,865 shares of the company’s stock, valued at approximately $8,815,685.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kevin J. Christie sold 780 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $41.78, for a total transaction of $32,588.40. Following the completion of the sale, the vice president now directly owns 9,229 shares in the company, valued at $385,587.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,986 shares of company stock worth $1,672,624. 1.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AVA. Oregon Public Employees Retirement Fund acquired a new stake in Avista in the 4th quarter valued at about $25,000. NumerixS Investment Technologies Inc acquired a new stake in Avista in the 4th quarter valued at about $26,000. WP Advisors LLC acquired a new stake in Avista in the 1st quarter valued at about $26,000. Private Capital Group LLC grew its stake in Avista by 1,179.2% in the 1st quarter. Private Capital Group LLC now owns 985 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 908 shares during the last quarter. Finally, Legg Mason Asset Management Japan Co. Ltd. acquired a new stake in Avista in the 4th quarter valued at about $56,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

About Avista

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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