KeyCorp Weighs in on Avista Co.’s FY2022 Earnings (NYSE:AVA)

Avista Co. (NYSE:AVAGet Rating) – Analysts at KeyCorp increased their FY2022 earnings per share (EPS) estimates for Avista in a report issued on Tuesday, April 19th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings per share of $2.00 for the year, up from their previous forecast of $1.99.

A number of other brokerages have also recently weighed in on AVA. Mizuho assumed coverage on shares of Avista in a research report on Thursday, March 10th. They set a “neutral” rating and a $47.00 price target on the stock. StockNews.com assumed coverage on shares of Avista in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of Avista from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, TheStreet raised shares of Avista from a “c+” rating to a “b-” rating in a research report on Monday, December 27th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Avista presently has a consensus rating of “Hold” and an average price target of $48.50.

Shares of NYSE AVA opened at $44.71 on Friday. The company’s fifty day moving average is $44.60 and its 200-day moving average is $42.51. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 3.41 and a beta of 0.59. Avista has a twelve month low of $37.73 and a twelve month high of $47.90. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 0.90.

Avista (NYSE:AVAGet Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The utilities provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $418.80 million for the quarter, compared to analysts’ expectations of $431.18 million. Avista had a net margin of 10.33% and a return on equity of 7.02%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Peregrine Capital Management LLC acquired a new position in Avista in the 4th quarter valued at about $10,961,000. Americana Partners LLC acquired a new position in Avista in the 3rd quarter valued at about $349,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Avista by 5.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,293,825 shares of the utilities provider’s stock valued at $50,614,000 after buying an additional 66,027 shares during the last quarter. Franklin Resources Inc. acquired a new position in Avista in the 3rd quarter valued at about $605,000. Finally, Apella Capital LLC acquired a new position in Avista in the 4th quarter valued at about $818,000. Institutional investors and hedge funds own 81.31% of the company’s stock.

In other news, Chairman Scott L. Morris sold 9,000 shares of the business’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $44.49, for a total transaction of $400,410.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Bryan Alden Cox sold 2,381 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $44.29, for a total transaction of $105,454.49. The disclosure for this sale can be found here. Insiders have sold a total of 15,481 shares of company stock worth $692,691 over the last three months. Insiders own 0.94% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Friday, February 18th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, February 17th. This is a boost from Avista’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 3.94%. Avista’s payout ratio is 84.21%.

Avista Company Profile (Get Rating)

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.

See Also

Earnings History and Estimates for Avista (NYSE:AVA)

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