Avista (NYSE:AVA) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Avista (NYSE:AVA) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04), FiscalAI reports. Avista had a net margin of 11.83% and a return on equity of 7.85%. The company had revenue of $421.00 million for the quarter, compared to analyst estimates of $425.52 million.

Avista Price Performance

Shares of AVA traded up $1.91 during trading hours on Wednesday, hitting $40.02. 738,563 shares of the company were exchanged, compared to its average volume of 673,846. The company has a quick ratio of 0.69, a current ratio of 1.10 and a debt-to-equity ratio of 1.08. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 4.05 and a beta of 0.22. Avista has a fifty-two week low of $34.46 and a fifty-two week high of $43.50. The firm’s fifty day moving average is $36.59 and its 200 day moving average is $39.71.

Insider Buying and Selling at Avista

In other news, VP Joshua Diluciano sold 4,675 shares of Avista stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.24, for a total transaction of $174,097.00. Following the completion of the transaction, the vice president directly owned 8,334 shares in the company, valued at $310,358.16. This trade represents a 35.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

AVA has been the topic of several recent analyst reports. Weiss Ratings cut shares of Avista from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Barclays lowered their price target on Avista from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Seven analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.75.

Avista Company Profile

Avista Corporation is an energy company headquartered in Spokane, Washington. Through its Avista Utilities subsidiary, the company provides regulated electric and natural gas services to residential, commercial, and industrial customers.

Avista’s electric operations serve communities in eastern Washington and northern Idaho, while its natural gas service territory includes portions of Washington, Idaho, and Oregon. The company’s utility activities include generating, purchasing, transmitting, distributing, and supplying energy, as well as maintaining the infrastructure needed to deliver those services.

The company traces its history to the founding of Washington Water Power in 1889.