Avangrid, Inc. (AGR) Updates FY17 Earnings Guidance
Avangrid, Inc. (NYSE:AGR) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.10-2.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.23.
Avangrid, Inc. (NYSE AGR) opened at 48.27 on Tuesday. The company’s 50-day moving average price is $47.65 and its 200-day moving average price is $45.78. Avangrid, Inc. has a one year low of $35.42 and a one year high of $49.04. The stock has a market cap of $14.92 billion, a P/E ratio of 22.13 and a beta of 0.49.
Avangrid (NYSE:AGR) last posted its quarterly earnings data on Monday, October 23rd. The utilities provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. Analysts forecast that Avangrid, Inc. will post $2.22 EPS for the current fiscal year.
AGR has been the topic of a number of research reports. Evercore ISI raised shares of Avangrid from an in-line rating to an outperform rating and raised their target price for the stock from $43.50 to $46.50 in a research report on Monday, July 24th. Zacks Investment Research lowered shares of Avangrid from a hold rating to a sell rating in a research report on Friday, October 13th. J P Morgan Chase & Co raised their target price on shares of Avangrid from $43.00 to $47.00 and gave the stock an underweight rating in a research report on Thursday, October 12th. Finally, Bank of America Corporation initiated coverage on shares of Avangrid in a research report on Tuesday. They set a buy rating on the stock. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $46.38.
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.
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