Avista Corp Lowered to “Neutral” at Zacks (AVA)
Avista Corp (NYSE:AVA) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Monday, AnalystRatingsNetwork reports. They currently have a $34.70 target price on the stock. Zacks‘s target price suggests a potential upside of 7.66% from the stock’s previous close.
Avista Corp (NYSE:AVA) traded down 0.22% during mid-day trading on Monday, hitting $32.23. The stock had a trading volume of 438,942 shares. Avista Corp has a 52 week low of $25.55 and a 52 week high of $32.94. The stock’s 50-day moving average is $31.14 and its 200-day moving average is $29.07. The company has a market cap of $1.939 billion and a price-to-earnings ratio of 16.58.
Avista Corp (NYSE:AVA) last announced its earnings results on Wednesday, May 7th. The company reported $0.81 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.04. The company had revenue of $490.96 million for the quarter, compared to the consensus estimate of $488.92 million. During the same quarter last year, the company posted $0.71 earnings per share. Avista Corp’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Avista Corp will post $1.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Tuesday, May 20th.
Separately, analysts at CRT Capital initiated coverage on shares of Avista Corp in a research note on Monday, April 7th. They set a “fair value” rating and a $32.00 price target on the stock.
Avista Corporation (NYSE:AVA) is an energy company engaged in the generation, transmission and distribution of energy, as well as other energy-related businesses.
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