Avista (NYSE:AVA) Releases FY22 Earnings Guidance

Avista (NYSE:AVA – Get Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.93-2.13 for the period, compared to the consensus earnings per share estimate of $2.00. Avista also updated its FY23 guidance to $2.42-2.62 EPS.

Shares of NYSE:AVA traded down $0.88 during trading on Thursday, hitting $40.85. 7,530 shares of the stock were exchanged, compared to its average volume of 432,976. The company has a market cap of $2.95 billion, a PE ratio of 19.60, a P/E/G ratio of 3.05 and a beta of 0.63. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 0.90. The company has a fifty day moving average price of $44.45 and a two-hundred day moving average price of $42.63. Avista has a 12-month low of $37.73 and a 12-month high of $47.90.

Avista (NYSE:AVA – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.08. Avista had a return on equity of 7.02% and a net margin of 10.33%. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Equities research analysts anticipate that Avista will post 1.98 earnings per share for the current fiscal year.

Several equities research analysts have commented on AVA shares. Mizuho initiated coverage on Avista in a research note on Thursday, March 10th. They set a neutral rating and a $47.00 price target for the company. Zacks Investment Research cut Avista from a hold rating to a sell rating in a report on Tuesday. Finally, StockNews.com started coverage on shares of Avista in a report on Thursday, March 31st. They issued a hold rating on the stock.

In other Avista news, VP Bryan Alden Cox sold 2,381 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $44.29, for a total value of $105,454.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Scott L. Morris sold 9,000 shares of Avista stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $44.49, for a total value of $400,410.00. The disclosure for this sale can be found here. Insiders sold 15,481 shares of company stock worth $692,691 over the last three months. 0.94% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in AVA. Morgan Stanley grew its position in Avista by 22.1% in the 2nd quarter. Morgan Stanley now owns 429,241 shares of the utilities provider’s stock valued at $18,315,000 after buying an additional 77,787 shares in the last quarter. LPL Financial LLC raised its position in Avista by 49.8% in the third quarter. LPL Financial LLC now owns 17,358 shares of the utilities provider’s stock worth $679,000 after acquiring an additional 5,773 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Avista in the 3rd quarter valued at about $273,000. Legal & General Group Plc boosted its position in shares of Avista by 6.1% during the 4th quarter. Legal & General Group Plc now owns 622,844 shares of the utilities provider’s stock valued at $26,465,000 after purchasing an additional 35,555 shares in the last quarter. Finally, Susquehanna International Group LLP grew its stake in shares of Avista by 11.3% in the 4th quarter. Susquehanna International Group LLP now owns 11,953 shares of the utilities provider’s stock worth $508,000 after purchasing an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Avista Company Profile (Get Rating)

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.

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