Avangrid, Inc. (AGR) Expected to Post Earnings of $0.39 Per Share
Analysts expect that Avangrid, Inc. (NYSE:AGR) will announce $0.39 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Avangrid’s earnings. The lowest EPS estimate is $0.37 and the highest is $0.42. Avangrid posted earnings per share of $0.35 in the same quarter last year, which indicates a positive year-over-year growth rate of 11.4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Avangrid will report full-year earnings of $2.22 per share for the current financial year, with EPS estimates ranging from $2.16 to $2.30. For the next financial year, analysts expect that the firm will report earnings of $2.39 per share, with EPS estimates ranging from $2.28 to $2.48. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Avangrid.
Avangrid (NYSE:AGR) last posted its quarterly earnings data on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.43 billion. Avangrid had a return on equity of 4.52% and a net margin of 11.25%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share.
A number of brokerages have recently weighed in on AGR. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $43.50 to $46.50 in a report on Monday, July 24th. Zacks Investment Research downgraded Avangrid from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Avangrid currently has a consensus rating of “Buy” and a consensus target price of $46.10.
Avangrid (AGR) traded up 0.56% during midday trading on Thursday, hitting $46.93. The stock had a trading volume of 230,168 shares. Avangrid has a 12-month low of $35.42 and a 12-month high of $47.09. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 21.52 and a beta of 0.56. The company has a 50-day moving average price of $44.96 and a 200-day moving average price of $43.44.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.68%. Avangrid’s dividend payout ratio (DPR) is 79.36%.
Several large investors have recently modified their holdings of AGR. Proficio Capital Partners LLC increased its stake in shares of Avangrid by 102.2% in the second quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock worth $124,000 after buying an additional 1,367 shares during the period. First Personal Financial Services increased its stake in shares of Avangrid by 3.4% in the second quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock worth $126,000 after buying an additional 94 shares during the period. US Bancorp DE increased its stake in shares of Avangrid by 106.3% in the first quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock worth $122,000 after buying an additional 1,475 shares during the period. Parallel Advisors LLC increased its stake in shares of Avangrid by 20.1% in the second quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock worth $148,000 after buying an additional 546 shares during the period. Finally, Klingenstein Fields & Co. LLC purchased a new stake in shares of Avangrid during the first quarter worth $214,000. Institutional investors and hedge funds own 13.52% of the company’s stock.
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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