Avangrid (NYSE:AGR) Releases Earnings Results, Beats Expectations By $0.40 EPS

Avangrid (NYSE:AGR) announced its quarterly earnings results on Sunday. The utilities provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.40, MarketWatch Earnings reports. Avangrid had a net margin of 10.19% and a return on equity of 4.20%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company posted $0.76 EPS. The company’s revenue was up 9.9% compared to the same quarter last year.

Shares of NYSE:AGR traded up $0.80 on Tuesday, hitting $51.76. 23,056 shares of the company’s stock were exchanged, compared to its average volume of 585,766. Avangrid has a 1-year low of $38.78 and a 1-year high of $56.20. The company has a market capitalization of $16.02 billion, a PE ratio of 25.09, a P/E/G ratio of 4.35 and a beta of 0.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.46. The firm’s 50-day moving average is $50.42 and its 200 day moving average is $48.02.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, June 3rd. Avangrid’s dividend payout ratio (DPR) is 81.11%.

Several equities research analysts have issued reports on the company. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 26th. Janney Montgomery Scott upgraded shares of Avangrid from a “neutral” rating to a “buy” rating and lifted their target price for the company from $45.00 to $55.00 in a report on Thursday, February 25th. Finally, Mizuho started coverage on Avangrid in a report on Tuesday. They issued a “neutral” rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.00.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Earnings History for Avangrid (NYSE:AGR)

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