Avista Corporation (NYSE:AVA) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.08), Briefing.com reports. Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. The company had revenue of $297.10 million for the quarter. During the same quarter in the previous year, the business posted $0.19 EPS. Avista Corporation’s revenue for the quarter was down 2.0% on a year-over-year basis.
A number of equities research analysts have issued reports on AVA shares. Zacks Investment Research upgraded Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Friday, July 21st. BidaskClub upgraded Avista Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of Avista Corporation in a report on Friday, July 21st. KeyCorp reiterated a “hold” rating on shares of Avista Corporation in a report on Friday, October 20th. Finally, Williams Capital downgraded Avista Corporation from a “hold” rating to a “sell” rating and increased their price target for the stock from $38.00 to $42.00 in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Avista Corporation has a consensus rating of “Hold” and a consensus target price of $47.75.
About Avista Corporation
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.
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