Avangrid (NYSE:AGR) Releases FY 2024 Earnings Guidance

Avangrid (NYSE:AGR) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.170-2.320 for the period, compared to the consensus EPS estimate of 2.250. The company issued revenue guidance of -. Avangrid also updated its FY24 guidance to $2.17 to $2.32 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Janney Montgomery Scott reiterated a sell rating and issued a $35.00 price target on shares of Avangrid in a research note on Friday, March 8th. Wells Fargo & Company boosted their price objective on Avangrid from $34.00 to $35.00 and gave the stock an equal weight rating in a research report on Friday, February 23rd. Mizuho boosted their price objective on Avangrid from $33.00 to $34.00 and gave the stock a neutral rating in a research report on Wednesday, January 3rd. Finally, StockNews.com upgraded Avangrid from a sell rating to a hold rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $34.75.

Avangrid Trading Up 0.4 %

Shares of NYSE AGR traded up $0.15 during trading on Friday, reaching $36.70. The company had a trading volume of 121,912 shares, compared to its average volume of 912,403. The stock has a market cap of $14.19 billion, a P/E ratio of 15.82, a PEG ratio of 2.77 and a beta of 0.56. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average price is $34.80 and its 200-day moving average price is $32.61. Avangrid has a 12 month low of $27.46 and a 12 month high of $41.22.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a return on equity of 4.37% and a net margin of 10.80%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. As a group, research analysts expect that Avangrid will post 2.23 earnings per share for the current year.

Avangrid Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Avangrid Company Profile

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.