Avista (NYSE:AVA - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.360-2.560 for the period, compared to the consensus earnings per share estimate of 2.390. The company issued revenue guidance of -. Avista also updated its FY24 guidance to $2.36-2.56 EPS.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Guggenheim upgraded Avista from a sell rating to a neutral rating and set a $34.00 price objective for the company in a report on Monday, January 22nd. StockNews.com upgraded Avista from a sell rating to a hold rating in a report on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat.com, Avista currently has a consensus rating of Hold and an average price target of $33.50.
Check Out Our Latest Stock Analysis on Avista
Avista Stock Up 1.8 %
Avista stock traded up $0.67 during mid-day trading on Wednesday, hitting $36.65. 809,695 shares of the company's stock were exchanged, compared to its average volume of 573,683. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The stock has a market cap of $2.86 billion, a P/E ratio of 16.43 and a beta of 0.50. Avista has a 1-year low of $30.53 and a 1-year high of $44.76. The stock has a 50 day moving average of $34.35 and a two-hundred day moving average of $34.31.
Avista (NYSE:AVA - Get Free Report) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.06). The business had revenue of $504.40 million for the quarter, compared to analyst estimates of $545.78 million. Avista had a return on equity of 7.07% and a net margin of 9.77%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, analysts anticipate that Avista will post 2.46 EPS for the current fiscal year.
Avista Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a $0.475 dividend. This is an increase from Avista's previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 5.18%. The ex-dividend date was Thursday, February 22nd. Avista's dividend payout ratio (DPR) is currently 85.20%.
About Avista
(
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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.
Further Reading
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