Avangrid (NYSE:AGR) Releases Earnings Results, Beats Expectations By $0.18 EPS

Avangrid (NYSE:AGR - Get Free Report) released its quarterly earnings data on Wednesday. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.18, Briefing.com reports. Avangrid had a net margin of 9.46% and a return on equity of 3.92%. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year.

Avangrid Stock Up 0.5 %

NYSE:AGR traded up $0.18 during mid-day trading on Wednesday, hitting $37.02. 827,902 shares of the company's stock were exchanged, compared to its average volume of 925,903. Avangrid has a one year low of $27.46 and a one year high of $41.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.65 and a quick ratio of 0.56. The business has a fifty day moving average price of $34.69 and a 200 day moving average price of $32.58. The company has a market cap of $14.32 billion, a PE ratio of 18.24, a P/E/G ratio of 2.77 and a beta of 0.56.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid's payout ratio is currently 86.70%.

Wall Street Analysts Forecast Growth

AGR has been the topic of a number of analyst reports. StockNews.com upgraded shares of Avangrid from a "sell" rating to a "hold" rating in a research report on Friday, February 23rd. Mizuho lifted their target price on shares of Avangrid from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Wednesday, January 3rd. Janney Montgomery Scott reaffirmed a "sell" rating and set a $35.00 target price on shares of Avangrid in a research note on Friday, March 8th. Finally, Wells Fargo & Company lifted their target price on shares of Avangrid from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $34.75.

Avangrid Company Profile

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.