Avista Corp Expected to Post FY2019 Earnings of $1.92 Per Share (AVA)
Avista Corp (NYSE:AVA) – Equities researchers at Williams Capital decreased their FY2019 earnings per share (EPS) estimates for shares of Avista in a note issued to investors on Monday, May 20th. Williams Capital analyst C. Ellinghaus now anticipates that the utilities provider will earn $1.92 per share for the year, down from their previous estimate of $1.98. Williams Capital also issued estimates for Avista’s FY2021 earnings at $2.26 EPS.
Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Avista from a “hold” rating to a “sell” rating in a report on Tuesday. Bank of America assumed coverage on Avista in a report on Thursday, May 9th. They issued an “underperform” rating and a $43.00 price objective on the stock. TheStreet lowered Avista from a “b-” rating to a “c+” rating in a report on Thursday, January 24th. Finally, Guggenheim reiterated a “hold” rating and set a $38.00 price target on shares of Avista in a report on Friday, February 8th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $40.67.
Avista (NYSE:AVA) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.31). The firm had revenue of $377.70 million during the quarter. Avista had a net margin of 14.26% and a return on equity of 6.48%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of AVA. NumerixS Investment Technologies Inc purchased a new stake in Avista in the 4th quarter valued at about $26,000. Loomis Sayles & Co. L P purchased a new stake in Avista in the 1st quarter valued at about $25,000. WP Advisors LLC purchased a new stake in Avista in the 1st quarter valued at about $26,000. Private Capital Group LLC raised its holdings in Avista by 1,179.2% in the 1st quarter. Private Capital Group LLC now owns 985 shares of the utilities provider’s stock valued at $40,000 after buying an additional 908 shares during the period. Finally, Legg Mason Asset Management Japan Co. Ltd. purchased a new stake in Avista in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 75.99% of the company’s stock.
In other news, SVP Jason R. Thackston sold 1,250 shares of Avista stock in a transaction on Monday, May 6th. The stock was sold at an average price of $43.58, for a total transaction of $54,475.00. Following the transaction, the senior vice president now owns 23,952 shares in the company, valued at approximately $1,043,828.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Scott L. Morris sold 18,900 shares of Avista stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $40.81, for a total value of $771,309.00. Following the transaction, the chairman now owns 222,823 shares in the company, valued at approximately $9,093,406.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,125 shares of company stock worth $1,227,584. Insiders own 1.10% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.3875 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $1.55 annualized dividend and a dividend yield of 3.70%. Avista’s dividend payout ratio is presently 73.46%.
Avista Corporation operates as an electric and natural gas utility company. It operates through 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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