Avista Corporation (AVA) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Avista Corporation (NYSE:AVA) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

According to Zacks, “Avista Corp. is a diversified energy company with utility and subsidiary operations located throughout North America. Avista Corp. also operates Avista Capital, which owns all the company’s non-regulated energy and non-energy businesses. Avista Capital companies include Avista Energy, Avista Energy Canada, Ltd., Avista Power, Avista Advantage, Avista Labs, Avista Fiber, Avista Communiations, Avista Development and Pentzer Corporation. (PRESS RELEASE) “

AVA has been the subject of several other research reports. Williams Capital lowered Avista Corporation from a hold rating to a sell rating and lifted their price objective for the stock from $38.00 to $42.00 in a report on Thursday, July 20th. BidaskClub lowered Avista Corporation from a strong-buy rating to a buy rating in a report on Wednesday, June 28th. Finally, BMO Capital Markets reissued a hold rating and issued a $53.00 price objective on shares of Avista Corporation in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $47.75.

Shares of Avista Corporation (NYSE AVA) opened at 52.35 on Tuesday. Avista Corporation has a 12 month low of $37.78 and a 12 month high of $52.83. The company has a market cap of $3.37 billion, a PE ratio of 24.75 and a beta of 0.45. The stock has a 50 day moving average of $51.67 and a 200-day moving average of $45.94.

Avista Corporation (NYSE:AVA) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. The business had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $326.33 million. During the same period in the prior year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts forecast that Avista Corporation will post $1.95 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Avista Corporation (AVA) Downgraded by Zacks Investment Research to Sell” was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://sportsperspectives.com/2017/10/11/avista-corporation-ava-downgraded-by-zacks-investment-research-to-sell.html.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.3575 dividend. This represents a $1.43 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Tuesday, August 29th. Avista Corporation’s dividend payout ratio (DPR) is currently 67.77%.

A number of institutional investors and hedge funds have recently made changes to their positions in AVA. Russell Investments Group Ltd. increased its holdings in Avista Corporation by 141.3% in the 1st quarter. Russell Investments Group Ltd. now owns 37,033 shares of the utilities provider’s stock worth $1,445,000 after acquiring an additional 21,685 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Avista Corporation by 40.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 53,176 shares of the utilities provider’s stock worth $2,077,000 after acquiring an additional 15,404 shares during the last quarter. Oxford Asset Management purchased a new stake in Avista Corporation in the 1st quarter worth about $233,000. Mason Street Advisors LLC increased its holdings in Avista Corporation by 7.2% in the 1st quarter. Mason Street Advisors LLC now owns 15,038 shares of the utilities provider’s stock worth $587,000 after acquiring an additional 1,013 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in Avista Corporation by 31.0% in the 1st quarter. Stifel Financial Corp now owns 12,904 shares of the utilities provider’s stock worth $502,000 after acquiring an additional 3,057 shares during the last quarter. 69.66% of the stock is owned by institutional investors.

Avista Corporation Company Profile

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 Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply