Zacks: Analysts Anticipate Avangrid (AGR) Will Post Earnings of $0.49 Per Share

Wall Street analysts predict that Avangrid (NYSE:AGR) will post earnings per share (EPS) of $0.49 for the current quarter, according to Zacks. Zero analysts have issued estimates for Avangrid’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.50. Avangrid reported earnings of $0.46 per share in the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The company is scheduled to announce its next earnings results on Wednesday, July 18th.

On average, analysts expect that Avangrid will report full-year earnings of $2.37 per share for the current financial year, with EPS estimates ranging from $2.28 to $2.45. For the next fiscal year, analysts expect that the company will report earnings of $2.52 per share, with EPS estimates ranging from $2.41 to $2.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Avangrid.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Monday, April 23rd. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.01). The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Avangrid had a return on equity of 4.59% and a net margin of 6.36%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share.

A number of research analysts recently commented on AGR shares. Gabelli restated a “buy” rating on shares of Avangrid in a research note on Wednesday, February 21st. Guggenheim set a $55.00 price target on Avangrid and gave the stock a “buy” rating in a research report on Thursday, February 15th. Bank of America reiterated a “buy” rating and set a $53.00 price target (up previously from $52.00) on shares of Avangrid in a research report on Thursday, February 22nd. ValuEngine upgraded Avangrid from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Citigroup started coverage on Avangrid in a research report on Friday, April 13th. They set a “buy” rating and a $58.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Avangrid presently has an average rating of “Buy” and an average price target of $52.21.

Shares of Avangrid opened at $53.05 on Monday, according to MarketBeat.com. The firm has a market capitalization of $15.94 billion, a PE ratio of 24.11, a PEG ratio of 2.38 and a beta of 0.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.73 and a quick ratio of 0.66. Avangrid has a 1 year low of $43.13 and a 1 year high of $54.55.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.73 dividend on an annualized basis and a yield of 3.26%. Avangrid’s dividend payout ratio (DPR) is presently 78.64%.

A number of hedge funds have recently made changes to their positions in the business. Advisor Group Inc. boosted its position in Avangrid by 56.6% during the 4th quarter. Advisor Group Inc. now owns 3,071 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 1,110 shares during the period. Dimensional Fund Advisors LP boosted its position in Avangrid by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 241,018 shares of the utilities provider’s stock worth $12,321,000 after acquiring an additional 1,141 shares during the period. Csenge Advisory Group boosted its position in Avangrid by 24.7% during the 4th quarter. Csenge Advisory Group now owns 7,160 shares of the utilities provider’s stock worth $362,000 after acquiring an additional 1,420 shares during the period. Harrington Investments INC lifted its holdings in shares of Avangrid by 30.4% in the fourth quarter. Harrington Investments INC now owns 6,202 shares of the utilities provider’s stock valued at $314,000 after buying an additional 1,445 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its holdings in shares of Avangrid by 11.6% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 14,103 shares of the utilities provider’s stock valued at $713,000 after buying an additional 1,469 shares during the period. Institutional investors own 13.88% of the company’s stock.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.

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