Avista (NYSE:AVA) Releases FY24 Earnings Guidance

Avista (NYSE:AVA) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.26-2.46 for the period, compared to the consensus earnings per share estimate of $2.44. Avista also updated its FY 2024 guidance to 2.260-2.460 EPS.

Wall Street Analyst Weigh In

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 target on the stock.

Avista Stock Up 2.1 %

AVA stock traded up $0.77 during midday trading on Friday, reaching $37.32. 627,864 shares of the company were exchanged, compared to its average volume of 516,830. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.60 and a current ratio of 0.75. Avista has a 1-year low of $31.91 and a 1-year high of $39.99. The stock’s 50-day simple moving average is $38.07 and its 200 day simple moving average is $37.18.

Avista (NYSE:AVA) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.13 by $0.10. Avista had a net margin of 10.24% and a return on equity of 7.83%. The firm had revenue of $383.70 million for the quarter, compared to analyst estimates of $389.29 million. During the same period last year, the business earned $0.19 EPS. Avista’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that Avista will post 2.41 earnings per share for the current year.

Insider Activity

In related news, VP David J. Meyer sold 2,400 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $38.32, for a total value of $91,968.00. Following the completion of the sale, the vice president now owns 5,436 shares in the company, valued at $208,307.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.