Analysts Anticipate Avangrid Inc (AGR) to Post $0.62 Earnings Per Share

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Analysts expect that Avangrid Inc (NYSE:AGR) will post $0.62 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have provided estimates for Avangrid’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.58. Avangrid posted earnings of $0.61 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 1.6%. The business is expected to issue its next quarterly earnings results on Tuesday, February 19th.

On average, analysts expect that Avangrid will report full-year earnings of $2.27 per share for the current fiscal year, with EPS estimates ranging from $2.23 to $2.30. For the next fiscal year, analysts forecast that the business will report earnings of $2.46 per share, with EPS estimates ranging from $2.34 to $2.55. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Avangrid.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, October 23rd. The utilities provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Avangrid had a net margin of 6.29% and a return on equity of 4.55%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS.

A number of research firms recently commented on AGR. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. TheStreet upgraded Avangrid from a “c+” rating to a “b” rating in a research report on Wednesday, November 14th. Citigroup reduced their price objective on Avangrid from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, December 4th. Goldman Sachs Group reiterated a “neutral” rating on shares of Avangrid in a research report on Monday, October 29th. Finally, Wells Fargo & Co upped their price objective on Avangrid from $54.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Avangrid currently has a consensus rating of “Hold” and an average target price of $53.78.

Avangrid stock opened at $51.15 on Friday. The firm has a market cap of $15.85 billion, a P/E ratio of 23.25, a PEG ratio of 2.60 and a beta of 0.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.67 and a quick ratio of 0.59. Avangrid has a one year low of $45.17 and a one year high of $54.55.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Monday, December 10th. Avangrid’s dividend payout ratio is presently 80.00%.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Avangrid by 2.4% during the second quarter. BlackRock Inc. now owns 2,200,554 shares of the utilities provider’s stock valued at $116,475,000 after purchasing an additional 50,929 shares during the period. Securian Asset Management Inc boosted its stake in shares of Avangrid by 179.1% in the third quarter. Securian Asset Management Inc now owns 48,011 shares of the utilities provider’s stock worth $2,301,000 after acquiring an additional 30,811 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Avangrid by 75.1% in the second quarter. Renaissance Technologies LLC now owns 743,800 shares of the utilities provider’s stock worth $39,369,000 after acquiring an additional 318,900 shares during the period. Legal & General Group Plc boosted its stake in shares of Avangrid by 3.5% in the second quarter. Legal & General Group Plc now owns 310,630 shares of the utilities provider’s stock worth $16,442,000 after acquiring an additional 10,579 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Avangrid by 1.2% in the third quarter. Wells Fargo & Company MN now owns 590,339 shares of the utilities provider’s stock worth $28,294,000 after acquiring an additional 6,734 shares during the period. 14.13% of the stock is 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. The company also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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