Zacks: Analysts Expect Avangrid, Inc. (NYSE:AGR) Will Post Earnings of $0.35 Per Share

Analysts expect Avangrid, Inc. (NYSE:AGRGet Rating) to announce earnings per share (EPS) of $0.35 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Avangrid’s earnings, with estimates ranging from $0.30 to $0.38. Avangrid also posted earnings of $0.35 per share in the same quarter last year. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Avangrid will report full year earnings of $2.22 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.35. For the next financial year, analysts forecast that the business will post earnings of $2.28 per share, with EPS estimates ranging from $2.18 to $2.54. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Avangrid.

Avangrid (NYSE:AGRGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The utilities provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Avangrid had a net margin of 11.45% and a return on equity of 4.40%. During the same period in the prior year, the company posted $1.14 EPS.

AGR has been the subject of several research analyst reports. StockNews.com started coverage on shares of Avangrid in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho reduced their target price on Avangrid from $47.00 to $42.00 and set an “underperform” rating for the company in a report on Thursday, February 24th. Wells Fargo & Company cut shares of Avangrid from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $60.00 to $48.00 in a research note on Wednesday, February 23rd. Janney Montgomery Scott downgraded shares of Avangrid from a “buy” rating to a “neutral” rating in a report on Thursday, February 24th. Finally, Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a research note on Tuesday, January 25th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.50.

Large investors have recently bought and sold shares of the company. Long Run Wealth Advisors LLC acquired a new stake in shares of Avangrid during the 4th quarter valued at about $888,000. Wellington Management Group LLP boosted its stake in shares of Avangrid by 0.9% in the third quarter. Wellington Management Group LLP now owns 5,697,474 shares of the utilities provider’s stock valued at $276,898,000 after purchasing an additional 49,170 shares during the period. Franklin Resources Inc. increased its position in shares of Avangrid by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 338,273 shares of the utilities provider’s stock valued at $16,440,000 after purchasing an additional 36,183 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Avangrid during the 4th quarter worth $87,000. Finally, UBS Asset Management Americas Inc. grew its stake in Avangrid by 1.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 335,841 shares of the utilities provider’s stock worth $16,322,000 after buying an additional 4,567 shares during the last quarter. Institutional investors and hedge funds own 11.44% of the company’s stock.

AGR stock traded down $0.44 during trading on Wednesday, hitting $43.68. The company had a trading volume of 46,371 shares, compared to its average volume of 689,511. Avangrid has a one year low of $42.20 and a one year high of $55.57. The company has a current ratio of 0.98, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average of $46.12 and a 200-day moving average of $47.64. The stock has a market cap of $16.89 billion, a PE ratio of 20.44, a PEG ratio of 3.31 and a beta of 0.35.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 3rd will be paid a $0.44 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.03%. Avangrid’s payout ratio is currently 82.24%.

About Avangrid (Get Rating)

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.

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Earnings History and Estimates for Avangrid (NYSE:AGR)

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