Avista (NYSE:AVA) Announces Quarterly Earnings Results

by · The Markets Daily

Avista (NYSE:AVA – Get Free Report) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.10, Briefing.com reports. Avista had a net margin of 10.24% and a return on equity of 7.83%. The business had revenue of $383.70 million for the quarter, compared to analyst estimates of $389.29 million. During the same period last year, the business posted $0.19 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Avista updated its FY 2024 guidance to 2.260-2.460 EPS and its FY24 guidance to $2.26-2.46 EPS.

Avista Trading Up 1.6 %

NYSE:AVA traded up $0.59 during trading hours on Friday, hitting $37.14. 30,820 shares of the company were exchanged, compared to its average volume of 514,077. The company has a fifty day simple moving average of $38.07 and a 200 day simple moving average of $37.18. Avista has a one year low of $31.91 and a one year high of $39.99. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.47. The company has a current ratio of 0.75, a quick ratio of 0.60 and a debt-to-equity ratio of 1.05.

Insider Transactions at Avista

In other news, VP David J. Meyer sold 2,400 shares of Avista stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $38.32, for a total value of $91,968.00. Following the completion of the sale, the vice president now owns 5,436 shares in the company, valued at $208,307.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Bank of America began coverage on shares of Avista in a report on Thursday, September 12th. They set an “underperform” rating and a $37.00 target price on the stock.

Read Our Latest Stock Analysis on AVA

Avista Company Profile

(Get Free Report)

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.

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