Zacks: Analysts Anticipate Avista Corporation (AVA) to Post $0.54 EPS
Brokerages forecast that Avista Corporation (NYSE:AVA) will announce earnings per share of $0.54 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Avista Corporation’s earnings. Avista Corporation reported earnings per share of $0.62 in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.9%. The company is expected to announce its next quarterly earnings results on Tuesday, February 20th.
On average, analysts expect that Avista Corporation will report full year earnings of $1.95 per share for the current financial year. For the next fiscal year, analysts expect that the firm will post earnings of $2.02 per share, with EPS estimates ranging from $1.98 to $2.05. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Avista Corporation.
Several analysts have recently commented on the stock. KeyCorp reiterated a “hold” rating on shares of Avista Corporation in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Avista Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. BidaskClub upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and set a $53.00 target price on shares of Avista Corporation in a research report on Friday, July 21st. Finally, Williams Capital lowered shares of Avista Corporation from a “hold” rating to a “sell” rating and raised their target price for the stock from $38.00 to $42.00 in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.75.
In related news, VP James M. Kensok sold 4,700 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $52.01, for a total transaction of $244,447.00. Following the sale, the vice president now owns 12,787 shares in the company, valued at $665,051.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kevin J. Christie sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $51.81, for a total transaction of $25,905.00. Following the sale, the vice president now owns 1,992 shares in the company, valued at approximately $103,205.52. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 173,000 shares of company stock worth $47,980. 1.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AVA. Renaissance Technologies LLC raised its stake in Avista Corporation by 528.1% during the first quarter. Renaissance Technologies LLC now owns 104,900 shares of the utilities provider’s stock worth $4,096,000 after purchasing an additional 88,200 shares during the period. State Street Corp raised its stake in Avista Corporation by 6.1% during the first quarter. State Street Corp now owns 1,748,071 shares of the utilities provider’s stock worth $68,263,000 after purchasing an additional 101,083 shares during the period. Credit Suisse AG raised its stake in Avista Corporation by 9.0% during the first quarter. Credit Suisse AG now owns 98,448 shares of the utilities provider’s stock worth $3,843,000 after purchasing an additional 8,131 shares during the period. State of Alaska Department of Revenue raised its stake in Avista Corporation by 78.3% during the second quarter. State of Alaska Department of Revenue now owns 12,714 shares of the utilities provider’s stock worth $539,000 after purchasing an additional 5,584 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in Avista Corporation by 1.4% during the second quarter. Eqis Capital Management Inc. now owns 9,124 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.
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Avista Corporation (AVA) traded up $0.19 during mid-day trading on Wednesday, hitting $52.07. 205,400 shares of the stock traded hands, compared to its average volume of 446,701. The firm has a market capitalization of $3,341.86, a price-to-earnings ratio of 25.18 and a beta of 0.44. Avista Corporation has a twelve month low of $37.78 and a twelve month high of $52.83. The company has a quick ratio of 0.37, a current ratio of 0.47 and a debt-to-equity ratio of 0.92.
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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