Avista (NYSE:AVA) Issues 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 2.1 %

AVA stock traded up $0.77 during midday trading on Friday, reaching $37.32. The stock had a trading volume of 627,864 shares, compared to its average volume of 516,830. The company has a quick ratio of 0.60, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. Avista has a twelve month low of $31.91 and a twelve month high of $39.99. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 3.23 and a beta of 0.47. The business has a fifty day simple moving average of $38.07 and a two-hundred day simple moving average of $37.18.

Avista (NYSE:AVA) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.10. Avista had a net margin of 10.24% and a return on equity of 7.83%. The business had revenue of $383.70 million for the quarter, compared to analyst estimates of $389.29 million. During the same period in the prior year, the business posted $0.19 earnings per share. Avista’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts expect that Avista will post 2.41 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other Avista news, VP David J. Meyer sold 2,400 shares of Avista stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $38.32, for a total transaction of $91,968.00. Following the transaction, the vice president now directly owns 5,436 shares in the company, valued at approximately $208,307.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.