Avista (AVA) Set to Announce Earnings on Wednesday

Avista (NYSE:AVA) is set to post its quarterly earnings results before the market opens on Wednesday, May 1st. Avista has set its FY 2024 guidance at 2.360-2.560 EPS and its FY24 guidance at $2.36-2.56 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Avista (NYSE:AVA) last posted its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.06). Avista had a net margin of 9.77% and a return on equity of 7.07%. The business had revenue of $504.40 million during the quarter, compared to analysts’ expectations of $545.78 million. During the same quarter in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis.

Avista Stock Performance

Shares of AVA stock opened at $35.72 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The company has a market cap of $2.79 billion, a PE ratio of 16.02 and a beta of 0.50. The company’s fifty day simple moving average is $34.26 and its 200-day simple moving average is $34.27. Avista has a 52 week low of $30.53 and a 52 week high of $44.76.

Avista Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were issued a $0.475 dividend. This is an increase from Avista’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 5.32%. The ex-dividend date was Thursday, February 22nd. Avista’s dividend payout ratio is currently 85.20%.

Wall Street Analyst Weigh In

AVA has been the subject of several analyst reports. Guggenheim raised Avista from a “sell” rating to a “neutral” rating and set a $34.00 target price for the company in a research report on Monday, January 22nd. StockNews.com upgraded Avista from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, Avista currently has an average rating of “Hold” and a consensus price target of $33.50.

Avista Company Profile

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.