Analysts Anticipate Avangrid Inc (AGR) to Announce $0.44 Earnings Per Share

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Wall Street brokerages predict that Avangrid Inc (NYSE:AGR) will announce earnings per share (EPS) of $0.44 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Avangrid’s earnings, with estimates ranging from $0.41 to $0.45. Avangrid reported earnings per share of $0.40 during the same quarter last year, which would suggest a positive year over year growth rate of 10%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 23rd.

According to Zacks, analysts expect that Avangrid will report full year earnings of $2.29 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.32. For the next financial year, analysts forecast that the business will report earnings of $2.50 per share, with EPS estimates ranging from $2.39 to $2.60. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Avangrid.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Tuesday, July 24th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.07). Avangrid had a net margin of 6.07% and a return on equity of 4.47%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm earned $0.46 EPS. Avangrid’s quarterly revenue was up 5.3% on a year-over-year basis.

AGR has been the subject of several research analyst reports. Bank of America decreased their price target on shares of Avangrid from $58.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. ValuEngine raised shares of Avangrid from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Zacks Investment Research raised shares of Avangrid from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, June 27th. Evercore ISI lowered shares of Avangrid from an “outperform” rating to an “in-line” rating and set a $53.00 price target for the company. in a report on Wednesday, July 25th. Finally, Wolfe Research lowered shares of Avangrid from a “peer perform” rating to an “underperform” rating in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Avangrid currently has an average rating of “Hold” and an average target price of $53.88.

Shares of AGR stock traded down $0.52 on Monday, hitting $49.77. The stock had a trading volume of 187,069 shares, compared to its average volume of 321,315. Avangrid has a twelve month low of $45.17 and a twelve month high of $54.55. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 2.41 and a beta of 0.04. The company has a quick ratio of 0.64, a current ratio of 0.73 and a debt-to-equity ratio of 0.34.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be given a $0.44 dividend. This is a boost from Avangrid’s previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, September 6th. Avangrid’s payout ratio is currently 80.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of AGR. Alps Advisors Inc. lifted its position in Avangrid by 152.2% in the 1st quarter. Alps Advisors Inc. now owns 12,282 shares of the utilities provider’s stock valued at $628,000 after acquiring an additional 7,413 shares in the last quarter. Greenleaf Trust bought a new stake in Avangrid in the 1st quarter valued at $281,000. DekaBank Deutsche Girozentrale lifted its position in Avangrid by 32.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 18,165 shares of the utilities provider’s stock valued at $928,000 after acquiring an additional 4,490 shares in the last quarter. Mackay Shields LLC bought a new stake in Avangrid in the 1st quarter valued at $879,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Avangrid by 23.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,572 shares of the utilities provider’s stock valued at $1,921,000 after acquiring an additional 7,199 shares in the last quarter. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.

See Also: Hedge Funds

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