Avista (AVA) to Release Quarterly Earnings on Wednesday

Avista (NYSE:AVA – Get Rating) is set to announce its earnings results before the market opens on Wednesday, August 3rd. Analysts expect the company to announce earnings of $0.26 per share for the quarter. Avista has set its FY22 guidance at $1.93-2.13 EPS and its FY23 guidance at $2.42-2.62 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Avista (NYSE:AVA – Get Rating) last announced its earnings results on Wednesday, May 4th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. Avista had a net margin of 10.23% and a return on equity of 7.05%. The business had revenue of $448.87 million during the quarter, compared to analyst estimates of $427.01 million. During the same period in the previous year, the business posted $0.98 earnings per share. On average, analysts expect Avista to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Avista Trading Up 0.8 %

Shares of Avista stock opened at $41.50 on Wednesday. Avista has a 1 year low of $37.73 and a 1 year high of $46.90. The firm has a market cap of $3.01 billion, a PE ratio of 19.76, a PEG ratio of 3.58 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.93 and a quick ratio of 0.81. The company has a 50 day simple moving average of $42.35 and a two-hundred day simple moving average of $43.38.

Avista Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, May 27th were issued a $0.44 dividend. The ex-dividend date was Thursday, May 26th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.24%. Avista’s payout ratio is 83.81%.

Insider Buying and Selling at Avista

In other news, Chairman Scott L. Morris sold 7,627 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $44.00, for a total value of $335,588.00. Following the sale, the chairman now directly owns 130,398 shares of the company’s stock, valued at approximately $5,737,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.94% of the company’s stock.

Institutional Trading of Avista

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Avista by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,373,667 shares of the utilities provider’s stock worth $378,072,000 after buying an additional 142,693 shares during the last quarter. State Street Corp grew its stake in shares of Avista by 27.0% in the 1st quarter. State Street Corp now owns 3,311,667 shares of the utilities provider’s stock worth $149,522,000 after buying an additional 704,947 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Avista by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,294,614 shares of the utilities provider’s stock worth $58,453,000 after buying an additional 23,773 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Avista by 3.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 820,592 shares of the utilities provider’s stock valued at $37,050,000 after purchasing an additional 28,941 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Avista by 3.0% during the 1st quarter. Rhumbline Advisers now owns 203,051 shares of the utilities provider’s stock valued at $9,168,000 after purchasing an additional 5,850 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

AVA has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Avista from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, June 29th. StockNews.com initiated coverage on shares of Avista in a report on Thursday, March 31st. They issued a “hold” rating for the company.

Avista Company Profile

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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.