$0.34 Earnings Per Share Expected for Avangrid, Inc. (NYSE:AGR) This Quarter

Equities research analysts forecast that Avangrid, Inc. (NYSE:AGRGet Rating) will announce $0.34 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Avangrid’s earnings, with estimates ranging from $0.30 to $0.38. Avangrid reported earnings of $0.35 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.9%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Avangrid will report full-year earnings of $2.27 per share for the current year, with EPS estimates ranging from $2.00 to $2.36. For the next year, analysts anticipate that the firm will report earnings of $2.31 per share, with EPS estimates ranging from $2.19 to $2.54. Zacks’ EPS averages are an average based on a survey of analysts that follow Avangrid.

Avangrid (NYSE:AGRGet Rating) last issued its earnings results on Tuesday, April 26th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. Avangrid had a net margin of 11.45% and a return on equity of 4.40%. During the same period last year, the firm posted $1.14 EPS.

A number of brokerages recently weighed in on AGR. Mizuho cut their price target on shares of Avangrid from $47.00 to $42.00 and set an “underperform” rating on the stock in a research report on Thursday, February 24th. StockNews.com assumed coverage on shares of Avangrid in a report on Thursday, March 31st. They set a “hold” rating on the stock. Janney Montgomery Scott downgraded shares of Avangrid from a “buy” rating to a “neutral” rating in a report on Thursday, February 24th. Finally, Wells Fargo & Company downgraded shares of Avangrid from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $60.00 to $48.00 in a report on Wednesday, February 23rd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Avangrid has a consensus rating of “Hold” and an average target price of $46.00.

Large investors have recently added to or reduced their stakes in the stock. Amplius Wealth Advisors LLC acquired a new position in Avangrid during the fourth quarter worth about $28,000. Concord Wealth Partners boosted its holdings in Avangrid by 66.4% in the fourth quarter. Concord Wealth Partners now owns 664 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 265 shares during the last quarter. Wahed Invest LLC bought a new stake in Avangrid in the fourth quarter valued at approximately $34,000. Covestor Ltd bought a new stake in Avangrid in the fourth quarter valued at approximately $41,000. Finally, GW&K Investment Management LLC bought a new stake in Avangrid in the first quarter valued at approximately $42,000. 11.44% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:AGR traded up $0.13 during mid-day trading on Wednesday, reaching $47.72. The stock had a trading volume of 850,900 shares, compared to its average volume of 709,547. The firm has a market cap of $18.45 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 3.55 and a beta of 0.35. The firm has a 50 day simple moving average of $46.64 and a two-hundred day simple moving average of $47.12. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.40. Avangrid has a twelve month low of $42.20 and a twelve month high of $55.57.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.69%. Avangrid’s dividend payout ratio (DPR) is presently 82.24%.

Avangrid Company Profile (Get Rating)

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.

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