Analysts Offer Predictions for Avista Co.’s Q2 2023 Earnings (NYSE:AVA)

Avista Co. (NYSE:AVA – Get Rating) – Investment analysts at KeyCorp decreased their Q2 2023 EPS estimates for Avista in a research note issued to investors on Friday, May 19th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings per share of $0.19 for the quarter, down from their previous estimate of $0.26. The consensus estimate for Avista’s current full-year earnings is $2.32 per share. KeyCorp also issued estimates for Avista’s FY2023 earnings at $2.34 EPS and FY2025 earnings at $2.56 EPS.

Avista (NYSE:AVA – Get Rating) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.43). Avista had a net margin of 8.04% and a return on equity of 6.02%. The business had revenue of $474.60 million for the quarter, compared to analysts’ expectations of $485.37 million. During the same quarter in the previous year, the business posted $0.99 earnings per share. Avista’s revenue for the quarter was up 2.7% on a year-over-year basis.

AVA has been the subject of a number of other reports. StockNews.com assumed coverage on shares of Avista in a report on Thursday. They issued a “sell” rating for the company. Mizuho lowered shares of Avista from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $45.00 to $38.00 in a report on Thursday, February 9th. Finally, TheStreet upgraded shares of Avista from a “c+” rating to a “b-” rating in a report on Wednesday, February 22nd.

Avista Price Performance

AVA stock opened at $42.43 on Monday. The firm has a 50 day moving average price of $43.10 and a 200-day moving average price of $41.90. Avista has a 52-week low of $35.72 and a 52-week high of $45.28. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.89 and a beta of 0.51. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.92 and a current ratio of 1.08.

Institutional Investors Weigh In On Avista

A number of large investors have recently added to or reduced their stakes in the stock. Delta Asset Management LLC TN bought a new stake in shares of Avista during the 4th quarter valued at $27,000. Bessemer Group Inc. grew its position in shares of Avista by 146.9% during the 1st quarter. Bessemer Group Inc. now owns 632 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 376 shares during the period. Quadrant Capital Group LLC grew its position in shares of Avista by 377.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 830 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 656 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Avista by 156.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 579 shares during the period. Finally, Cutler Group LLC CA bought a new stake in shares of Avista during the 1st quarter valued at $42,000. Institutional investors own 82.92% of the company’s stock.

Insiders Place Their Bets

In other Avista news, VP Bryan Alden Cox sold 2,542 shares of Avista stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $41.30, for a total value of $104,984.60. Following the completion of the sale, the vice president now owns 4,698 shares of the company’s stock, valued at approximately $194,027.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Avista Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 26th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Thursday, May 25th. Avista’s dividend payout ratio (DPR) is presently 98.93%.

Avista Company Profile

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Avista Corp. is a holding company, which engages in the provision of electric and natural gas utility business. It operates through the Avista Utilities, and Alaska Electric Light and Power Company (AEL&P) segments. The Avista Utilities segment includes electric distribution and transmission, and natural gas distribution services in parts of eastern Washington, Northern Idaho, and Northeastern and Southwestern Oregon.