Avista (NYSE:AVA) Releases FY24 Earnings Guidance

Avista (NYSE:AVA) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Avista Trading Up 2.3 %

NYSE AVA opened at $37.23 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.60 and a current ratio of 0.88. The stock has a 50 day simple moving average of $38.12 and a two-hundred day simple moving average of $37.18. The stock has a market cap of $2.93 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 3.14 and a beta of 0.47. Avista has a fifty-two week low of $31.91 and a fifty-two week high of $39.99.

Avista (NYSE:AVA) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. The business had revenue of $390.80 million for the quarter, compared to analysts’ expectations of $386.69 million. Avista had a return on equity of 7.77% and a net margin of 10.12%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, analysts forecast that Avista will post 2.41 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Avista

In other news, VP David J. Meyer sold 2,400 shares of the stock in a transaction that occurred 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 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 filing with the SEC, which is available through the SEC website. 0.96% of the stock is owned by company insiders.

Avista Company Profile

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.