Brokers Set Expectations for Avista Corporation’s Q3 2017 Earnings (NYSE:AVA)
Avista Corporation (NYSE:AVA) – Equities researchers at Williams Capital decreased their Q3 2017 earnings per share estimates for shares of Avista Corporation in a research note issued to investors on Monday. Williams Capital analyst C. Ellinghaus now anticipates that the utilities provider will post earnings per share of $0.12 for the quarter, down from their previous estimate of $0.13. Williams Capital currently has a “Sell” rating and a $42.00 price target on the stock. Williams Capital also issued estimates for Avista Corporation’s Q3 2018 earnings at $0.13 EPS.
Avista Corporation (NYSE:AVA) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Avista Corporation had a return on equity of 8.19% and a net margin of 9.35%. The firm had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $326.33 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This report was first published by American Banking News and is the property of of American Banking News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2017/08/15/brokers-set-expectations-for-avista-corporations-q3-2017-earnings-nyseava.html.
A number of other research analysts have also recently commented on AVA. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of Avista Corporation in a report on Friday, July 21st. Zacks Investment Research raised Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Friday, July 21st. Finally, BidaskClub raised Avista Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $47.75.
Shares of Avista Corporation (NYSE:AVA) opened at 51.84 on Tuesday. The stock has a 50 day moving average of $47.49 and a 200-day moving average of $42.30. Avista Corporation has a one year low of $37.78 and a one year high of $52.83. The stock has a market capitalization of $3.34 billion, a P/E ratio of 24.51 and a beta of 0.42.
Large investors have recently added to or reduced their stakes in the stock. Tyers Asset Management LLC boosted its stake in Avista Corporation by 11.5% in the first quarter. Tyers Asset Management LLC now owns 2,640 shares of the utilities provider’s stock worth $103,000 after buying an additional 272 shares during the period. Riverhead Capital Management LLC boosted its position in shares of Avista Corporation by 38.8% in the second quarter. Riverhead Capital Management LLC now owns 2,498 shares of the utilities provider’s stock valued at $106,000 after buying an additional 698 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Avista Corporation by 73.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,901 shares of the utilities provider’s stock valued at $113,000 after buying an additional 1,230 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Avista Corporation by 28.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the utilities provider’s stock valued at $114,000 after buying an additional 599 shares during the last quarter. Finally, Advisor Group Inc. boosted its position in shares of Avista Corporation by 16.3% in the second quarter. Advisor Group Inc. now owns 2,883 shares of the utilities provider’s stock valued at $123,000 after buying an additional 403 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.
About Avista Corporation
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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