Avangrid, Inc. (AGR) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Avangrid, Inc. (NYSE:AGR) posted its earnings results on Monday. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03, MarketWatch Earnings reports. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis.
Shares of Avangrid (NYSE:AGR) opened at 48.925 on Tuesday. The stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 22.432 and a beta of 0.49. The stock’s 50 day moving average is $47.65 and its 200 day moving average is $45.78. Avangrid has a 1-year low of $35.42 and a 1-year high of $49.04.
Several equities research analysts have recently issued reports on the stock. Bank of America Corporation assumed coverage on shares of Avangrid in a research note on Tuesday. They set a “buy” rating on the stock. Evercore ISI raised shares of Avangrid from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $43.50 to $46.50 in a research note on Monday, July 24th. J P Morgan Chase & Co increased their target price on shares of Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, October 12th. Finally, Zacks Investment Research lowered shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $46.38.
ILLEGAL ACTIVITY WARNING: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/24/avangrid-inc-agr-releases-quarterly-earnings-results-beats-expectations-by-0-03-eps.html.
Avangrid Company Profile
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
Receive News & Ratings for Avangrid Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid Inc. and related companies with MarketBeat.com's FREE daily email newsletter.