Avista (NYSE:AVA) Issues FY24 Earnings Guidance

Avista (NYSE:AVA) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.26-2.46 for the period, compared to the consensus EPS estimate of $2.44. Avista also updated its FY 2024 guidance to 2.260-2.460 EPS.

Avista Price Performance

Shares of NYSE:AVA opened at $37.23 on Wednesday. The firm’s 50 day moving average price is $38.12 and its 200-day moving average price is $37.18. 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 stock has a market capitalization of $2.93 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 3.14 and a beta of 0.47. Avista has a twelve month low of $31.91 and a twelve month high of $39.99.

Avista (NYSE:AVA) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.29 EPS for the quarter, topping 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 company had revenue of $390.80 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same period last year, the firm earned $0.23 EPS. Avista’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts expect that Avista will post 2.41 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Avista

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