Avista (AVA) to Release Earnings on Wednesday

Avista (NYSE:AVA) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Avista has set its FY24 guidance at $2.36-2.56 EPS and its FY 2024 guidance at 2.360-2.560 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Avista (NYSE:AVA) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. Avista had a return on equity of 7.77% and a net margin of 10.12%. The business had revenue of $390.80 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, analysts expect Avista to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Avista Trading Down 2.1 %

Shares of AVA stock opened at $36.70 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.05. The firm has a market cap of $2.89 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 3.23 and a beta of 0.47. The business has a 50-day moving average price of $38.20 and a two-hundred day moving average price of $37.15. Avista has a 12-month low of $31.91 and a 12-month high of $39.99.

Avista Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 22nd were given a $0.475 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.90 dividend on an annualized basis and a yield of 5.18%. Avista’s payout ratio is 76.92%.

Wall Street Analyst Weigh In

Separately, Bank of America initiated coverage on shares of Avista in a research report on Thursday, September 12th. They issued an “underperform” rating and a $37.00 target price on the stock.

Insider Activity

In other news, VP David J. Meyer sold 2,400 shares of Avista stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $38.32, for a total transaction of $91,968.00. Following the sale, the vice president now owns 5,436 shares of the company’s stock, valued at approximately $208,307.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

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.