Avista (NYSE:AVA) Releases Earnings Results, Beats Expectations By $0.10 EPS

Avista (NYSE:AVAGet Free Report) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.13 by $0.10, Briefing.com reports. The business had revenue of $383.70 million for the quarter, compared to analysts’ expectations of $389.29 million. Avista had a net margin of 10.24% and a return on equity of 7.83%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. Avista updated its FY 2024 guidance to 2.260-2.460 EPS and its FY24 guidance to $2.26-2.46 EPS.

Avista Trading Up 2.1 %

NYSE AVA opened at $37.32 on Friday. The firm has a market capitalization of $2.94 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 3.23 and a beta of 0.47. Avista has a one year low of $31.91 and a one year high of $39.99. The company has a 50-day simple moving average of $38.05 and a 200-day simple moving average of $37.19. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.60 and a current ratio of 0.75.

Insider Buying and Selling

In related news, VP David J. Meyer sold 2,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $38.32, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Read Our Latest Report on AVA

Avista Company Profile

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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.

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Earnings History for Avista (NYSE:AVA)

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