Avista (NYSE:AVA) Issues FY24 Earnings Guidance

Avista (NYSE:AVA) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.36-2.56 for the period, compared to the consensus EPS estimate of $2.44.

Avista Price Performance

AVA traded down $0.39 during midday trading on Wednesday, hitting $37.78. 110,556 shares of the company traded hands, compared to its average volume of 536,811. The company has a current ratio of 0.97, a quick ratio of 0.69 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 15.84 and a beta of 0.46. Avista has a 52-week low of $30.53 and a 52-week high of $39.99. The business has a 50 day simple moving average of $35.94 and a two-hundred day simple moving average of $35.23.

Analyst Upgrades and Downgrades

AVA has been the topic of several recent analyst reports. StockNews.com raised shares of Avista from a sell rating to a hold rating in a report on Friday, May 10th. Mizuho raised shares of Avista from an underperform rating to a neutral rating and raised their price target for the stock from $32.00 to $36.00 in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of Hold and an average target price of $35.00.

Insider Buying and Selling at Avista

In other Avista news, SVP Bryan Alden Cox sold 1,716 shares of Avista stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $35.70, for a total transaction of $61,261.20. Following the completion of the sale, the senior vice president now directly owns 7,196 shares in the company, valued at $256,897.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Bryan Alden Cox sold 1,716 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $35.70, for a total transaction of $61,261.20. Following the sale, the senior vice president now directly owns 7,196 shares of the company’s stock, valued at approximately $256,897.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason R. Thackston sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $36.98, for a total transaction of $92,450.00. Following the sale, the chief executive officer now directly owns 32,506 shares in the company, valued at $1,202,071.88. The disclosure for this sale can be found here. Insiders sold a total of 5,916 shares of company stock worth $215,268 over the last three months. 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.