Avista (NYSE:AVA) Releases Earnings Results, Beats Expectations By $0.07 EPS

Avista (NYSE:AVAGet Free Report) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07, Briefing.com reports. The company had revenue of $390.80 million for the quarter, compared to analyst estimates of $386.69 million. Avista had a return on equity of 7.65% and a net margin of 9.96%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. Avista updated its FY24 guidance to $2.36-2.56 EPS and its FY 2024 guidance to 2.360-2.560 EPS.

Avista Stock Performance

AVA remained flat at $38.04 on Friday. The company had a trading volume of 539,851 shares, compared to its average volume of 542,729. Avista has a fifty-two week low of $30.53 and a fifty-two week high of $39.99. The company has a market cap of $2.97 billion, a P/E ratio of 15.78 and a beta of 0.46. The company has a current ratio of 0.97, a quick ratio of 0.69 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average price of $36.02 and a two-hundred day moving average price of $35.27.

Avista Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.90 annualized dividend and a yield of 4.99%. Avista’s payout ratio is presently 78.84%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVA. StockNews.com upgraded Avista from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Mizuho upgraded Avista from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $32.00 to $36.00 in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.00.

Read Our Latest Report on Avista

Insider Buying and Selling

In other Avista news, SVP Bryan Alden Cox sold 1,716 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $35.70, for a total transaction of $61,261.20. Following the transaction, the senior vice president now owns 7,196 shares of the company’s stock, valued at $256,897.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Avista news, SVP Bryan Alden Cox sold 1,716 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $35.70, for a total transaction of $61,261.20. Following the transaction, the senior vice president now owns 7,196 shares of the company’s stock, valued at $256,897.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Latisha Diane Hill sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.21, for a total value of $61,557.00. Following the transaction, the vice president now directly owns 11,085 shares in the company, valued at approximately $401,387.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,916 shares of company stock worth $215,268. Corporate insiders own 0.96% of the company’s stock.

Avista Company Profile

(Get Free Report)

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in 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.

Featured Stories

Earnings History for Avista (NYSE:AVA)

Receive News & Ratings for Avista Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista and related companies with MarketBeat.com's FREE daily email newsletter.