Avista (NYSE:AVA) Updates FY 2024 Earnings Guidance

Avista (NYSE:AVA - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.260-2.460 for the period, compared to the consensus earnings per share estimate of 2.440. The company issued revenue guidance of -. Avista also updated its FY24 guidance to $2.26-2.46 EPS.

Avista Price Performance

AVA traded down $0.06 during trading on Wednesday, reaching $37.17. The stock had a trading volume of 535,103 shares, compared to its average volume of 512,136. The stock has a 50 day moving average of $38.12 and a two-hundred day moving average of $37.18. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 3.14 and a beta of 0.47. Avista has a 1-year low of $31.91 and a 1-year high of $39.99.

Avista (NYSE:AVA - Get Free Report) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. The business had revenue of $390.80 million during the quarter, compared to analysts' expectations of $386.69 million. Avista had a return on equity of 7.77% and a net margin of 10.12%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. As a group, equities analysts anticipate that Avista will post 2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America began coverage on shares of Avista in a research note on Thursday, September 12th. They issued an "underperform" rating and a $37.00 price objective for the company.

Insider Activity

In related news, VP David J. Meyer sold 2,400 shares of Avista 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 completion of the transaction, the vice president now directly owns 5,436 shares of the company's stock, valued at $208,307.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by corporate 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.