Avista Corporation (AVA) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS
Avista Corporation (NYSE:AVA) announced its earnings results on Wednesday. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.08), Briefing.com reports. Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. The business had revenue of $297.10 million for the quarter. During the same quarter in the prior year, the company earned $0.19 earnings per share. Avista Corporation’s quarterly revenue was down 2.0% compared to the same quarter last year.
Avista Corporation (AVA) traded down 0.297% during mid-day trading on Wednesday, reaching $52.085. The company’s stock had a trading volume of 81,983 shares. The stock’s 50 day moving average is $51.89 and its 200 day moving average is $47.27. Avista Corporation has a one year low of $37.78 and a one year high of $52.83. The firm has a market cap of $3.35 billion, a PE ratio of 24.626 and a beta of 0.45.
AVA has been the topic of several recent analyst reports. Zacks Investment Research lowered Avista Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Williams Capital lowered Avista Corporation from a “hold” rating to a “sell” rating and upped their target price for the company from $38.00 to $42.00 in a research report on Thursday, July 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 target price on shares of Avista Corporation in a research report on Friday, July 21st. KeyCorp reaffirmed a “hold” rating on shares of Avista Corporation in a research report on Friday, October 20th. Finally, BidaskClub raised Avista Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Avista Corporation presently has an average rating of “Hold” and an average target price of $47.75.
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.
Receive News & Ratings for Avista Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista Corporation and related companies with MarketBeat.com's FREE daily email newsletter.