Brokerages expect Avista Corporation (NYSE:AVA) to post earnings per share of $0.54 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Avista’s earnings. Avista posted earnings per share of $0.62 during the same quarter last year, which would suggest a negative year-over-year growth rate of 12.9%. The business is scheduled to report its next earnings results on Tuesday, February 20th.
According to Zacks, analysts expect that Avista will report full-year earnings of $1.95 per share for the current financial year. For the next year, analysts anticipate that the company will report earnings of $2.02 per share, with EPS estimates ranging from $1.98 to $2.05. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Avista.
Several equities research analysts recently weighed in on AVA shares. Zacks Investment Research downgraded shares of Avista from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. KeyCorp reissued a “hold” rating on shares of Avista in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Avista currently has a consensus rating of “Hold” and an average target price of $47.75.
In related news, VP Kevin J. Christie sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $51.81, for a total value of $25,905.00. Following the sale, the vice president now owns 1,992 shares in the company, valued at $103,205.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James M. Kensok sold 4,700 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $52.01, for a total transaction of $244,447.00. Following the completion of the sale, the vice president now owns 12,787 shares in the company, valued at approximately $665,051.87. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 173,000 shares of company stock worth $47,980 and sold 6,132 shares worth $318,760. Company insiders own 1.10% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Riverhead Capital Management LLC boosted its holdings in Avista by 38.8% in the second quarter. Riverhead Capital Management LLC now owns 2,498 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 698 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Avista by 28.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 599 shares during the last quarter. Advisor Group Inc. boosted its holdings in Avista by 16.3% in the second quarter. Advisor Group Inc. now owns 2,883 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 403 shares during the last quarter. CWH Capital Management Inc. purchased a new stake in Avista in the second quarter worth approximately $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Avista by 8.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the utilities provider’s stock worth $134,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 77.35% of the company’s stock.
Shares of Avista (NYSE AVA) traded down $0.12 on Monday, hitting $51.55. 606,276 shares of the company traded hands, compared to its average volume of 443,253. The company has a market capitalization of $3,330.91, a P/E ratio of 25.10 and a beta of 0.42. The company has a quick ratio of 0.37, a current ratio of 0.47 and a debt-to-equity ratio of 0.92. Avista has a 12 month low of $37.78 and a 12 month high of $52.83.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.3575 per share. This represents a $1.43 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Thursday, November 30th. Avista’s dividend payout ratio (DPR) is currently 71.86%.
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Avista Company Profile
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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