Avista Corporation (NYSE:AVA) – Research analysts at Williams Capital reduced their FY2017 earnings estimates for Avista Corporation in a research note issued to investors on Monday. Williams Capital analyst C. Ellinghaus now forecasts that the utilities provider will post earnings per share of $1.95 for the year, down from their prior forecast of $2.00. Williams Capital has a “Sell” rating and a $42.00 price objective on the stock. Williams Capital also issued estimates for Avista Corporation’s Q4 2017 earnings at $0.54 EPS, Q1 2018 earnings at $0.89 EPS, Q2 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.61 EPS, FY2018 earnings at $1.98 EPS and FY2019 earnings at $2.04 EPS.
Avista Corporation (NYSE:AVA) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.03. The company had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $326.33 million. Avista Corporation had a return on equity of 8.19% and a net margin of 9.35%. Avista Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS.
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A number of other brokerages also recently weighed in on AVA. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price objective on shares of Avista Corporation in a research report on Friday, July 21st. Zacks Investment Research raised Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Friday, July 21st. Finally, BidaskClub raised Avista Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Avista Corporation currently has a consensus rating of “Hold” and an average price target of $47.75.
Avista Corporation (NYSE AVA) opened at 51.49 on Wednesday. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 24.35 and a beta of 0.42. The stock has a 50 day moving average price of $48.24 and a 200 day moving average price of $42.53. Avista Corporation has a 52-week low of $37.78 and a 52-week high of $52.83.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.3575 dividend. This represents a $1.43 dividend on an annualized basis and a yield of 2.78%. Avista Corporation’s dividend payout ratio (DPR) is presently 67.77%.
Large investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in Avista Corporation by 1.0% in the first quarter. Swiss National Bank now owns 105,700 shares of the utilities provider’s stock worth $4,128,000 after buying an additional 1,000 shares during the period. Rothschild Asset Management Inc. boosted its stake in Avista Corporation by 2.7% in the second quarter. Rothschild Asset Management Inc. now owns 622,434 shares of the utilities provider’s stock worth $26,429,000 after buying an additional 16,656 shares during the period. Teza Capital Management LLC acquired a new stake in Avista Corporation during the first quarter worth approximately $265,000. OppenheimerFunds Inc. boosted its stake in Avista Corporation by 3.4% in the first quarter. OppenheimerFunds Inc. now owns 203,486 shares of the utilities provider’s stock worth $7,946,000 after buying an additional 6,689 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Avista Corporation by 6.4% in the first quarter. Citadel Advisors LLC now owns 68,540 shares of the utilities provider’s stock worth $2,676,000 after buying an additional 4,140 shares during the period. Institutional investors own 69.29% of the company’s stock.
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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