Avangrid (NYSE:AGR) Announces Earnings Results, Beats Estimates By $0.40 EPS


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Avangrid (NYSE:AGR) released its earnings results on Sunday. The utilities provider reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.40, MarketWatch Earnings reports. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Avangrid had a net margin of 10.19% and a return on equity of 4.20%. Avangrid’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS.

Shares of Avangrid stock traded up $0.68 on Tuesday, reaching $51.64. 748,479 shares of the company were exchanged, compared to its average volume of 587,703. Avangrid has a fifty-two week low of $38.78 and a fifty-two week high of $56.20. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 4.35 and a beta of 0.21. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $50.42 and a 200-day moving average price of $48.02.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 4th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Thursday, June 3rd. Avangrid’s dividend payout ratio is presently 81.11%.

AGR has been the topic of a number of research analyst reports. Janney Montgomery Scott upgraded shares of Avangrid from a “neutral” rating to a “buy” rating and raised their price objective for the company from $45.00 to $55.00 in a research note on Thursday, February 25th. Mizuho assumed coverage on Avangrid in a report on Tuesday. They issued a “neutral” rating and a $52.00 price objective for the company. Finally, Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $53.00.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Earnings History for Avangrid (NYSE:AGR)

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