Avista (NYSE:AVA) Releases FY23 Earnings Guidance

Avista (NYSE:AVAGet Rating) issued an update on its FY23 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.42-2.62 for the period, compared to the Thomson Reuters consensus estimate of $2.45. Avista also updated its FY22 guidance to $1.93-2.13 EPS.

Shares of NYSE:AVA opened at $40.15 on Wednesday. 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 has a 52-week low of $37.73 and a 52-week high of $47.90. The stock’s fifty day simple moving average is $44.49 and its 200-day simple moving average is $42.63. The company has a market capitalization of $2.90 billion, a P/E ratio of 19.21, a P/E/G ratio of 3.09 and a beta of 0.63.

Avista (NYSE:AVAGet Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Avista had a return on equity of 7.02% and a net margin of 10.33%. The business had revenue of $418.80 million for the quarter, compared to the consensus estimate of $431.18 million. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Avista will post 1.98 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Friday, February 18th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 17th. This is an increase from Avista’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 4.38%. Avista’s dividend payout ratio is 84.21%.

Several equities analysts recently weighed in on the company. StockNews.com assumed coverage on Avista in a research report on Thursday, March 31st. They set a hold rating on the stock. Zacks Investment Research downgraded Avista from a hold rating to a sell rating in a research report on Tuesday. Finally, Mizuho assumed coverage on Avista in a research report on Thursday, March 10th. They set a neutral rating and a $47.00 target price on the stock.

In other Avista news, Chairman Scott L. Morris sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $44.49, for a total transaction of $400,410.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David J. Meyer sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $45.28, for a total value of $63,392.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,481 shares of company stock valued at $692,691. Insiders own 0.94% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley lifted its holdings in Avista by 22.1% during the 2nd quarter. Morgan Stanley now owns 429,241 shares of the utilities provider’s stock worth $18,315,000 after buying an additional 77,787 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Avista by 24.8% during the 4th quarter. Parametric Portfolio Associates LLC now owns 257,596 shares of the utilities provider’s stock worth $10,945,000 after buying an additional 51,149 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Avista by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 237,223 shares of the utilities provider’s stock worth $10,080,000 after buying an additional 4,659 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Avista by 10.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 115,655 shares of the utilities provider’s stock worth $4,914,000 after buying an additional 11,041 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Avista by 42.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 108,118 shares of the utilities provider’s stock worth $4,594,000 after buying an additional 32,338 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.

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Earnings History and Estimates for Avista (NYSE:AVA)

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