Avista (NYSE:AVA) Issues FY24 Earnings Guidance

Avista (NYSE:AVA) issued an update on 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.

Analysts Set New Price Targets

Separately, Bank of America initiated coverage on Avista in a report on Thursday, September 12th. They set an “underperform” rating and a $37.00 price target on the stock.

Avista Trading Up 2.1 %

NYSE:AVA opened at $37.32 on Friday. Avista has a 12 month low of $31.91 and a 12 month high of $39.99. The company has a current ratio of 0.75, a quick ratio of 0.60 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $38.05 and its 200 day moving average is $37.19. The stock has a market capitalization of $2.94 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 3.23 and a beta of 0.47.

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

Insider Buying and Selling

In other Avista news, VP David J. Meyer sold 2,400 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $38.32, for a total transaction of $91,968.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.96% of the stock is owned by insiders.

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.