Avista (NYSE:AVA) Issues FY 2024 Earnings Guidance

Avista (NYSE:AVA) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.360-2.560 for the period, compared to the consensus EPS estimate of 2.390. The company issued revenue guidance of -. Avista also updated its FY24 guidance to $2.36-2.56 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Mizuho raised Avista from an underperform rating to a neutral rating and lifted their price target for the stock from $32.00 to $36.00 in a research note on Friday. StockNews.com lowered Avista from a hold rating to a sell rating in a research note on Thursday. Finally, Guggenheim raised Avista from a sell rating to a neutral rating and set a $34.00 price target for the company in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $35.00.

Avista Trading Up 1.4 %

AVA traded up $0.51 during midday trading on Friday, reaching $37.30. 514,268 shares of the company’s stock traded hands, compared to its average volume of 466,379. The firm has a fifty day moving average of $34.47 and a two-hundred day moving average of $34.35. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 15.48 and a beta of 0.48. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.97 and a quick ratio of 0.65. Avista has a 52 week low of $30.53 and a 52 week high of $44.76.

Avista (NYSE:AVA) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). The firm had revenue of $594.90 million during the quarter, compared to analysts’ expectations of $469.34 million. Avista had a net margin of 9.96% and a return on equity of 7.65%. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS. On average, equities analysts anticipate that Avista will post 2.46 earnings per share for the current fiscal year.

Avista Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 23rd will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Wednesday, May 22nd. Avista’s dividend payout ratio (DPR) is presently 78.84%.

About Avista

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.