Avista (NYSE:AVA) Issues FY 2024 Earnings Guidance

Avista (NYSE:AVA) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.260-2.460 for the period, compared to the consensus earnings per share estimate of 2.440. The company issued revenue guidance of -. Avista also updated its FY24 guidance to $2.26-2.46 EPS.

Analysts Set New Price Targets

Separately, Bank of America began coverage on shares of Avista in a research report on Thursday, September 12th. They set an “underperform” rating and a $37.00 price objective for the company.

Avista Stock Performance

Shares of NYSE:AVA traded up $0.69 during trading on Friday, reaching $37.24. 240,685 shares of the stock were exchanged, compared to its average volume of 515,044. Avista has a 12 month low of $31.91 and a 12 month high of $39.99. The stock has a 50-day moving average price of $38.07 and a 200-day moving average price of $37.18. 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 has a market cap of $2.93 billion, a PE ratio of 14.56, a PEG ratio of 3.23 and a beta of 0.47.

Avista (NYSE:AVA) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.10. The business 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. Research analysts expect that Avista will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Avista news, VP David J. Meyer sold 2,400 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $208,307.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.