Avangrid (NYSE:AGR) Issues Earnings Results


Share on StockTwits

Avangrid (NYSE:AGR) issued its earnings results on Sunday. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.40, MarketWatch Earnings reports. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.82 billion. Avangrid had a net margin of 10.19% and a return on equity of 4.20%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 EPS.

AGR traded up $0.73 on Tuesday, hitting $51.69. 20,265 shares of the company’s stock were exchanged, compared to its average volume of 585,766. The firm has a market cap of $16.00 billion, a PE ratio of 25.09, a P/E/G ratio of 4.35 and a beta of 0.21. Avangrid has a twelve month low of $38.78 and a twelve month high of $56.20. The stock has a fifty day moving average of $50.42 and a two-hundred day moving average of $48.02. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, June 3rd. This represents a $1.76 annualized dividend and a yield of 3.40%. Avangrid’s dividend payout ratio (DPR) is 81.11%.

A number of brokerages have recently issued reports on AGR. Zacks Investment Research upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 26th. Mizuho began coverage on shares of Avangrid in a research note on Tuesday. They issued a “neutral” rating and a $52.00 target price on the stock. Finally, Janney Montgomery Scott upgraded shares of Avangrid from a “neutral” rating to a “buy” rating and upped their target price for the company from $45.00 to $55.00 in a research note on Thursday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Avangrid presently has an average rating of “Hold” and a consensus target price of $53.00.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

Recommended Story: Book Value Per Share in Stock Trading

Earnings History for Avangrid (NYSE:AGR)

Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.