Avista (NYSE:AVA) Issues FY 2024 Earnings Guidance

Avista (NYSE:AVA) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.260-2.460 for the period, compared to the consensus estimate of 2.440. The company issued revenue guidance of -. Avista also updated its FY24 guidance to $2.26-2.46 EPS.

Analysts Set New Price Targets

Separately, Bank of America began coverage on shares of Avista in a report on Thursday, September 12th. They issued an “underperform” rating and a $37.00 price objective for the company.

Avista Stock Up 2.2 %

AVA traded up $0.82 during trading hours on Friday, hitting $37.37. 252,665 shares of the company’s stock were exchanged, compared to its average volume of 515,099. Avista has a 1-year low of $31.91 and a 1-year high of $39.99. The stock’s 50-day moving average is $38.07 and its two-hundred day moving average is $37.18. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 3.23 and a beta of 0.47. The company has a quick ratio of 0.60, a current ratio of 0.75 and a debt-to-equity ratio of 1.05.

Avista (NYSE:AVA) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.10. The company had revenue of $383.70 million for the quarter, compared to analyst estimates of $389.29 million. Avista had a net margin of 10.24% and a return on equity of 7.83%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share. Sell-side analysts predict that Avista will post 2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP David J. Meyer sold 2,400 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $38.32, for a total value of $91,968.00. Following the completion of the sale, the vice president now owns 5,436 shares in the company, valued at $208,307.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.96% of the company’s stock.

About Avista

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.