Avista Corp (AVA) Expected to Post Q1 2017 Earnings of $0.84 Per Share
Avista Corp (NYSE:AVA) – Analysts at KeyCorp issued their Q1 2017 earnings estimates for shares of Avista Corp in a report issued on Tuesday. KeyCorp analyst P. Ridzon expects that the utilities provider will earn $0.84 per share for the quarter.
A number of other equities analysts also recently weighed in on the company. Williams Capital reiterated a “hold” rating and issued a $37.00 target price (down previously from $38.00) on shares of Avista Corp in a report on Thursday, February 23rd. Mizuho dropped their target price on Avista Corp from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, February 23rd. Finally, Zacks Investment Research upgraded Avista Corp from a “sell” rating to a “hold” rating in a report on Monday, February 20th. Five investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $40.25.
COPYRIGHT VIOLATION NOTICE: “Avista Corp (AVA) Expected to Post Q1 2017 Earnings of $0.84 Per Share” was published by Financial Market News and is the property of of Financial Market News. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at http://www.financial-market-news.com/avista-corp-ava-expected-to-post-q1-2017-earnings-of-0-84-per-share/1404930/.
Shares of Avista Corp (NYSE:AVA) opened at 39.93 on Friday. Avista Corp has a 52-week low of $37.78 and a 52-week high of $45.22. The company has a market capitalization of $2.57 billion, a P/E ratio of 18.57 and a beta of 0.37. The stock’s 50 day moving average price is $39.42 and its 200-day moving average price is $39.81.
Avista Corp (NYSE:AVA) last released its earnings results on Tuesday, February 21st. The utilities provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The firm earned $402.12 million during the quarter, compared to the consensus estimate of $576.05 million. Avista Corp had a return on equity of 8.13% and a net margin of 9.39%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS.
In other news, insider Karen S. Feltes sold 5,500 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $39.53, for a total value of $217,415.00. Following the completion of the sale, the insider now directly owns 28,114 shares of the company’s stock, valued at $1,111,346.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason R. Thackston sold 750 shares of the stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $39.26, for a total value of $29,445.00. Following the completion of the sale, the insider now directly owns 25,049 shares of the company’s stock, valued at $983,423.74. The disclosure for this sale can be found here. Insiders sold 12,524 shares of company stock valued at $492,661 over the last three months. 1.07% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of Avista Corp by 17.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,032,887 shares of the utilities provider’s stock worth $84,954,000 after buying an additional 309,202 shares during the last quarter. Northern Trust Corp raised its position in shares of Avista Corp by 1.8% in the third quarter. Northern Trust Corp now owns 1,759,457 shares of the utilities provider’s stock worth $73,528,000 after buying an additional 30,559 shares during the last quarter. State Street Corp raised its position in shares of Avista Corp by 5.3% in the fourth quarter. State Street Corp now owns 1,646,988 shares of the utilities provider’s stock worth $65,866,000 after buying an additional 82,188 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Avista Corp by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,276,246 shares of the utilities provider’s stock worth $51,038,000 after buying an additional 6,729 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Avista Corp during the fourth quarter worth approximately $27,556,000. Institutional investors and hedge funds own 67.54% of the company’s stock.
About Avista Corp
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
Receive News & Ratings for Avista Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista Corp and related companies with MarketBeat.com's FREE daily email newsletter.