Avista (NYSE:AVA) Releases FY 2024 Earnings Guidance

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

Avista Stock Performance

AVA stock traded up $0.79 during midday trading on Friday, reaching $37.34. 276,435 shares of the company’s stock traded hands, compared to its average volume of 515,208. The company has a 50-day moving average price of $38.07 and a two-hundred day moving average price of $37.18. 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 14.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.47. Avista has a 52 week low of $31.91 and a 52 week high of $39.99.

Avista (NYSE:AVA) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.10. The company had revenue of $383.70 million for 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 revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. As a group, equities analysts anticipate that Avista will post 2.41 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, VP David J. Meyer sold 2,400 shares of the firm’s 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 sale, the vice president now directly owns 5,436 shares in the company, valued at $208,307.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently 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.