Avista (AVA) Set to Announce Earnings on Wednesday

Avista (NYSE:AVA) will be issuing its quarterly earnings data before the market opens on Wednesday, May 1st. Avista has set its FY 2024 guidance at 2.360-2.560 EPS and its FY24 guidance at $2.36-2.56 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Avista (NYSE:AVA) last issued its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.06). Avista had a return on equity of 7.07% and a net margin of 9.77%. The company had revenue of $504.40 million during the quarter, compared to the consensus estimate of $545.78 million. During the same quarter in the prior year, the business earned $1.05 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts expect Avista to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Avista Trading Up 0.6 %

AVA stock opened at $35.56 on Wednesday. Avista has a twelve month low of $30.53 and a twelve month high of $44.83. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 15.95 and a beta of 0.50. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 1.03. The firm’s fifty day simple moving average is $34.07 and its two-hundred day simple moving average is $34.17.

Avista Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were paid a dividend of $0.475 per share. The ex-dividend date was Thursday, February 22nd. This is a boost from Avista’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.34%. Avista’s payout ratio is currently 85.20%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com raised shares of Avista from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Guggenheim upgraded Avista from a “sell” rating to a “neutral” rating and set a $34.00 price target on the stock in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.50.

About Avista

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.