Zacks: Brokerages Expect Avista Corp (NYSE:AVA) Will Announce Earnings of $0.33 Per Share

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Brokerages forecast that Avista Corp (NYSE:AVA) will announce earnings per share of $0.33 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Avista’s earnings. Avista reported earnings per share of $0.39 in the same quarter last year, which would indicate a negative year-over-year growth rate of 15.4%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, August 7th.

On average, analysts expect that Avista will report full year earnings of $1.90 per share for the current financial year, with EPS estimates ranging from $1.85 to $1.93. For the next fiscal year, analysts expect that the firm will post earnings of $2.00 per share, with EPS estimates ranging from $1.95 to $2.05. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Avista.

Avista (NYSE:AVA) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.31). The business had revenue of $377.70 million during the quarter. Avista had a return on equity of 6.48% and a net margin of 14.26%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share.

AVA has been the subject of a number of analyst reports. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. KeyCorp reiterated an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a research note on Wednesday, June 5th. Zacks Investment Research cut shares of General Finance from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America began coverage on shares of Coty in a research note on Thursday, May 9th. They set a “neutral” rating and a $12.00 target price for the company. Finally, TheStreet cut shares of Worthington Industries from a “b-” rating to a “c+” rating in a research note on Monday, June 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Avista has a consensus rating of “Hold” and an average price target of $39.25.

In other news, insider Marian M. Durkin sold 10,004 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $44.11, for a total value of $441,276.44. Following the sale, the insider now owns 78,451 shares of the company’s stock, valued at approximately $3,460,473.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Scott L. Morris sold 23,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $44.33, for a total transaction of $1,019,590.00. Following the completion of the sale, the chairman now directly owns 198,865 shares in the company, valued at approximately $8,815,685.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,986 shares of company stock valued at $1,672,624. Corporate insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Deprince Race & Zollo Inc. bought a new stake in shares of Avista in the 1st quarter worth about $27,001,000. Royce & Associates LP bought a new stake in shares of Avista in the 1st quarter worth about $447,000. Everence Capital Management Inc. grew its holdings in shares of Avista by 78.1% in the 1st quarter. Everence Capital Management Inc. now owns 12,930 shares of the utilities provider’s stock worth $525,000 after purchasing an additional 5,670 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Avista by 339.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 21,112 shares of the utilities provider’s stock worth $897,000 after purchasing an additional 16,313 shares during the last quarter. Finally, Laurion Capital Management LP grew its holdings in shares of Avista by 418.4% in the 1st quarter. Laurion Capital Management LP now owns 42,931 shares of the utilities provider’s stock worth $1,744,000 after purchasing an additional 34,650 shares during the last quarter. 78.25% of the stock is currently owned by institutional investors and hedge funds.

AVA stock traded up $0.27 during trading hours on Friday, hitting $45.84. The company’s stock had a trading volume of 5,189 shares, compared to its average volume of 354,917. The stock has a 50 day moving average of $43.97. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.64 and a quick ratio of 0.54. Avista has a 12 month low of $39.75 and a 12 month high of $52.70. The stock has a market cap of $2.97 billion, a P/E ratio of 21.63, a PEG ratio of 7.27 and a beta of 0.43.

Avista Company Profile

Avista Corporation operates as an electric and natural gas utility company. It operates through 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.

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