Research Analysts Issue Forecasts for Avista FY2024 Earnings

Avista Co. (NYSE:AVA) – Analysts at KeyCorp lowered their FY2024 earnings estimates for shares of Avista in a note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $2.32 for the year, down from their previous forecast of $2.43. The consensus estimate for Avista’s current full-year earnings is $2.36 per share.

Avista (NYSE:AVA) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.13 by $0.10. The firm had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $389.29 million. Avista had a return on equity of 7.83% and a net margin of 10.24%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share.

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

Avista Price Performance

NYSE:AVA opened at $37.25 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.48 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $37.92 and a 200 day simple moving average of $37.33. Avista has a 1-year low of $31.91 and a 1-year high of $39.99. The stock has a market capitalization of $2.95 billion, a PE ratio of 14.84, a P/E/G ratio of 4.11 and a beta of 0.48.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Avista during the third quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new stake in Avista in the 3rd quarter valued at $29,000. Quest Partners LLC acquired a new position in Avista in the 2nd quarter valued at $40,000. KBC Group NV increased its position in Avista by 46.9% during the 3rd quarter. KBC Group NV now owns 2,098 shares of the utilities provider’s stock worth $81,000 after buying an additional 670 shares during the period. Finally, Headlands Technologies LLC lifted its holdings in shares of Avista by 256.6% during the second quarter. Headlands Technologies LLC now owns 2,714 shares of the utilities provider’s stock worth $94,000 after buying an additional 1,953 shares in the last quarter. 85.24% of the stock is owned by institutional investors.

Avista Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend is Tuesday, November 26th. Avista’s payout ratio is 75.70%.

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.