Avista (NYSE:AVA) Announces Earnings Results

Key Points

• Avista missed quarterly expectations: EPS was $0.38 versus a $0.42 consensus estimate, while revenue of $421 million came in below the $425.52 million forecast.
• Shares rose $1.90 to $40.01 in Wednesday midday trading after the earnings report.
• Analysts maintain a consensus Hold rating, with an average price target of $38.75; Barclays lowered its target to $35.

Avista (NYSE:AVA - Get Free Report) posted its earnings results on Tuesday. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.04), FiscalAI reports. The company had revenue of $421.00 million for the quarter, compared to the consensus estimate of $425.52 million. Avista had a net margin of 11.83% and a return on equity of 7.85%.

Avista Stock Performance

Shares of NYSE AVA traded up $1.90 during midday trading on Wednesday, hitting $40.01. 709,868 shares of the company's stock traded hands, compared to its average volume of 673,446. The firm has a fifty day moving average of $36.59 and a 200 day moving average of $39.71. Avista has a 1 year low of $34.46 and a 1 year high of $43.50. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.69 and a current ratio of 1.10. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Avista from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, October 9th. Weiss Ratings downgraded shares of Avista from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 9th. Seven research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Avista currently has a consensus rating of "Hold" and a consensus price target of $38.75.

Insider Activity

In related news, VP Joshua Diluciano sold 4,675 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $37.24, for a total transaction of $174,097.00. Following the completion of the sale, the vice president directly owned 8,334 shares in the company, valued at approximately $310,358.16. The trade was a 35.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.78% of the company's stock.

Avista Company Profile

Avista Corporation is an energy company headquartered in Spokane, Washington. Through its Avista Utilities subsidiary, the company provides regulated electric and natural gas services to residential, commercial, and industrial customers.

Avista's electric operations serve communities in eastern Washington and northern Idaho, while its natural gas service territory includes portions of Washington, Idaho, and Oregon. The company's utility activities include generating, purchasing, transmitting, distributing, and supplying energy, as well as maintaining the infrastructure needed to deliver those services.

The company traces its history to the founding of Washington Water Power in 1889.

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