Equities research analysts forecast that Avangrid, Inc. (NYSE:AGR) will announce sales of $1.35 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Avangrid’s earnings. The highest sales estimate is $1.45 billion and the lowest is $1.24 billion. Avangrid reported sales of $1.42 billion in the same quarter last year, which suggests a negative year over year growth rate of 4.9%. The business is scheduled to report its next quarterly earnings report on Tuesday, October 24th.
On average, analysts expect that Avangrid will report full year sales of $1.35 billion for the current fiscal year, with estimates ranging from $5.52 billion to $6.10 billion. For the next financial year, analysts anticipate that the company will report sales of $6.13 billion per share, with estimates ranging from $5.75 billion to $6.42 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Avangrid.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Avangrid had a return on equity of 4.52% and a net margin of 11.25%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS.
A number of equities research analysts have weighed in on AGR shares. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $43.50 to $46.50 in a report on Monday, July 24th. Zacks Investment Research downgraded Avangrid from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $46.10.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in shares of Avangrid during the first quarter valued at about $92,755,000. BlackRock Inc. boosted its position in shares of Avangrid by 34,543.3% in the first quarter. BlackRock Inc. now owns 2,105,968 shares of the utilities provider’s stock valued at $90,008,000 after buying an additional 2,099,889 shares during the last quarter. Pzena Investment Management LLC bought a new position in shares of Avangrid during the first quarter valued at about $73,555,000. Karp Capital Management Corp bought a new position in shares of Avangrid during the first quarter valued at about $9,094,000. Finally, Global X Management Co. LLC boosted its position in shares of Avangrid by 10,006.4% in the first quarter. Global X Management Co. LLC now owns 187,979 shares of the utilities provider’s stock valued at $8,034,000 after buying an additional 186,119 shares during the last quarter. 13.52% of the stock is currently owned by institutional investors.
Shares of Avangrid (NYSE:AGR) opened at 46.50 on Friday. The company has a market capitalization of $14.37 billion, a PE ratio of 21.32 and a beta of 0.56. Avangrid has a 52 week low of $35.42 and a 52 week high of $47.09. The stock has a 50 day moving average price of $45.03 and a 200-day moving average price of $43.52.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.73 annualized dividend and a dividend yield of 3.72%. Avangrid’s payout ratio is 79.36%.
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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