Avangrid (NYSE:AGR) Issues FY 2024 Earnings Guidance

Avangrid (NYSE:AGR) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.170-2.320 for the period, compared to the consensus EPS estimate of 2.250. The company issued revenue guidance of -. Avangrid also updated its FY24 guidance to $2.17 to $2.32 EPS.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Avangrid from $34.00 to $35.00 and gave the company an equal weight rating in a report on Friday, February 23rd. Janney Montgomery Scott reiterated a sell rating and set a $35.00 price objective on shares of Avangrid in a report on Friday, March 8th. StockNews.com upgraded shares of Avangrid from a sell rating to a hold rating in a report on Friday, February 23rd. Finally, Mizuho increased their price objective on shares of Avangrid from $33.00 to $34.00 and gave the stock a neutral rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $34.75.

Avangrid Trading Down 1.3 %

Shares of AGR stock traded down $0.47 during trading hours on Thursday, hitting $36.55. 588,628 shares of the company were exchanged, compared to its average volume of 922,440. The firm has a market cap of $14.14 billion, a PE ratio of 15.82, a PEG ratio of 2.75 and a beta of 0.56. Avangrid has a 1 year low of $27.46 and a 1 year high of $41.22. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $34.80 and a 200 day moving average of $32.61.

Avangrid (NYSE:AGR) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.37%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Analysts expect that Avangrid will post 2.23 earnings per share for the current year.

Avangrid Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Avangrid Company Profile

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.