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.

Analyst Upgrades and Downgrades

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

Avista Stock Performance

Shares of NYSE:AVA traded up $0.77 during midday trading on Friday, hitting $37.32. The company’s stock had a trading volume of 627,864 shares, compared to its average volume of 516,830. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.60 and a current ratio of 0.75. The stock’s 50 day simple moving average is $38.07 and its 200 day simple moving average is $37.18. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 3.23 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 issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.13 by $0.10. Avista had a return on equity of 7.83% and a net margin of 10.24%. The company had revenue of $383.70 million for the quarter, compared to the consensus estimate of $389.29 million. During the same period in the previous year, the business posted $0.19 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that Avista will post 2.41 earnings per share for the current year.

Insider Buying and Selling at Avista

In other news, VP David J. Meyer sold 2,400 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $38.32, for a total transaction of $91,968.00. Following the transaction, the vice president now owns 5,436 shares in the company, valued at approximately $208,307.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.96% of the company’s stock.

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.