Avista (NYSE:AVA) Releases 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.

Avista Trading Up 2.2 %

Avista stock traded up $0.82 during mid-day trading on Friday, hitting $37.37. The company’s stock had a trading volume of 252,665 shares, compared to its average volume of 515,099. The company has a 50 day moving average of $38.07 and a 200-day moving average of $37.18. The stock has a market cap of $2.94 billion, a PE ratio of 14.56, a P/E/G 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 one year low of $31.91 and a one year 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 for the quarter, topping analysts’ consensus estimates of $0.13 by $0.10. Avista had a return on equity of 7.83% and a net margin of 10.24%. The firm had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $389.29 million. During the same period in the prior year, the business posted $0.19 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that Avista will post 2.41 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Avista

In related news, VP David J. Meyer sold 2,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $38.32, for a total value of $91,968.00. Following the completion of the transaction, the vice president now directly owns 5,436 shares of the company’s stock, valued at $208,307.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by company 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.