Avangrid (NYSE:AGR) Posts Earnings Results, Beats Estimates By $0.18 EPS

Avangrid (NYSE:AGR) announced its quarterly earnings results on Wednesday. The utilities provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18, Briefing.com reports. Avangrid had a net margin of 9.46% and a return on equity of 3.92%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year.

Avangrid Price Performance

Avangrid stock remained flat at $36.84 during mid-day trading on Wednesday. 85,920 shares of the company’s stock were exchanged, compared to its average volume of 916,323. The firm has a market capitalization of $14.25 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.77 and a beta of 0.56. Avangrid has a 12 month low of $27.46 and a 12 month high of $41.22. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $34.56 and its two-hundred day simple moving average is $32.55.

Avangrid Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.44 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.76 annualized dividend and a dividend yield of 4.78%. Avangrid’s dividend payout ratio (DPR) is 86.70%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Mizuho increased their price objective on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 3rd. Janney Montgomery Scott reissued a “sell” rating and issued a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th. Finally, Wells Fargo & Company raised their target price on shares of Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, Avangrid presently has an average rating of “Hold” and an average target price of $34.75.

About Avangrid

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.