Avista (NYSE:AVA) Releases Earnings Results, Beats Expectations By $0.08 EPS

Avista (NYSE:AVA) released its earnings results on Wednesday. The utilities provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08, Briefing.com reports. Avista had a return on equity of 5.96% and a net margin of 14.19%. During the same period in the previous year, the company earned $0.70 EPS. Avista updated its FY 2020
Pre-Market guidance to 1.95-2.15 EPS and its FY20 guidance to $1.95-2.15 EPS.

Shares of Avista stock traded up $0.44 during trading on Wednesday, hitting $49.49. 647,585 shares of the company’s stock traded hands, compared to its average volume of 341,752. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.62 and a quick ratio of 0.45. Avista has a 1 year low of $39.75 and a 1 year high of $52.43. The stock has a market capitalization of $3.37 billion, a P/E ratio of 16.95, a PEG ratio of 7.41 and a beta of 0.36. The business has a 50-day simple moving average of $50.11 and a 200-day simple moving average of $48.16.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 21st will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Thursday, February 20th. This is a boost from Avista’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a dividend yield of 3.27%. Avista’s dividend payout ratio (DPR) is 76.78%.

In related news, SVP Marian M. Durkin sold 10,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. Following the sale, the senior vice president now directly owns 67,451 shares of the company’s stock, valued at $3,154,008.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

AVA has been the topic of a number of recent research reports. ValuEngine cut Avista from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Guggenheim cut Avista from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 7th. Zacks Investment Research cut Avista from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, KeyCorp increased their price objective on Avista from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Avista has a consensus rating of “Sell” and an average target price of $45.25.

Avista Company Profile

Avista Corporation operates as an electric and natural gas utility company. It operates through 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.

Featured Article: Hedge Funds Explained

Earnings History for Avista (NYSE:AVA)

Receive News & Ratings for Avista Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista and related companies with MarketBeat.com's FREE daily email newsletter.