Avista (AVA) Set to Announce Quarterly Earnings on Wednesday

Avista (NYSE:AVA) is set to issue its quarterly earnings data 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

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

Avista Stock Performance

Shares of AVA opened at $35.55 on Monday. The stock has a 50 day moving average of $34.22 and a 200 day moving average of $34.24. Avista has a 12 month low of $30.53 and a 12 month high of $44.83. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 15.94 and a beta of 0.50. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03.

Avista Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 5.34%. This is a positive change from Avista’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, February 22nd. Avista’s dividend payout ratio is 85.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AVA shares. Guggenheim raised Avista from a “sell” rating to a “neutral” rating and set a $34.00 price target for the company in a report on Monday, January 22nd. StockNews.com raised Avista from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, Avista currently has a consensus rating of “Hold” and a consensus price target of $33.50.

About Avista

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.