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 guidance of 2.260-2.460 for the period, compared to the consensus earnings per share estimate of 2.440. The company issued revenue guidance of -. Avista also updated its FY24 guidance to $2.26-2.46 EPS.

Wall Street Analysts Forecast Growth

Separately, Bank of America initiated coverage on Avista in a research report on Thursday, September 12th. They issued an “underperform” rating and a $37.00 target price on the stock.

Avista Stock Up 1.9 %

AVA stock traded up $0.69 during midday trading on Friday, hitting $37.24. The company’s stock had a trading volume of 240,685 shares, compared to its average volume of 515,044. The company’s fifty day moving average price is $38.07 and its 200 day moving average price is $37.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.60. Avista has a twelve month low of $31.91 and a twelve month high of $39.99. The stock has a market capitalization of $2.93 billion, a P/E ratio of 14.56, a PEG ratio of 3.23 and a beta of 0.47.

Avista (NYSE:AVA) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.10. Avista had a return on equity of 7.83% and a net margin of 10.24%. The business had revenue of $383.70 million for the quarter, compared to the consensus estimate of $389.29 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. Avista’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that Avista will post 2.41 EPS for the current year.

Insider Activity

In related news, VP David J. Meyer sold 2,400 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $38.32, for a total transaction of $91,968.00. Following the transaction, the vice president now directly owns 5,436 shares in the company, valued at approximately $208,307.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is currently owned by insiders.

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.