Avista (NYSE:AVA) Issues FY 2024 Earnings Guidance

Avista (NYSE:AVA) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.260-2.460 for the period, compared to the consensus EPS 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 note on Thursday, September 12th. They issued an “underperform” rating and a $37.00 price objective for the company.

Avista Stock Performance

NYSE:AVA opened at $37.32 on Friday. The stock has a 50-day simple moving average of $38.05 and a two-hundred day simple moving average of $37.19. Avista has a 52-week low of $31.91 and a 52-week high of $39.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.60 and a current ratio of 0.75. The firm has a market capitalization of $2.94 billion, a PE ratio of 14.87, a P/E/G ratio of 3.23 and a beta of 0.47.

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

Insider Activity at Avista

In other news, VP David J. Meyer sold 2,400 shares of the 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 owns 5,436 shares in the company, valued at $208,307.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.