Avista Corp (AVA) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.89 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.80. The company posted revenue of $418.20 million in the period, compared to analysts expectations of $477.79 million. The company’s revenue was down -6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.
Many Wall Street Analysts have commented on Avista Corp. Mizuho Initiated Avista Corp on Mar 31, 2016 to “Neutral”, Price Target of the shares are set at $41.Company shares were Downgraded by UBS on Mar 18, 2016 to ” Sell”, Firm has raised the Price Target to $ 36 from a previous price target of $33 .
Avista Corp opened for trading at $40.04 and hit $40.78 on the upside on Monday, eventually ending the session at $40.6, with a gain of 1.32% or 0.53 points. The heightened volatility saw the trading volume jump to 4,27,614 shares. Company has a market cap of $2,537 M.
In a different news, on Mar 10, 2016, R John Taylor (director) purchased 2,500 shares at $39.27 per share price. According to the SEC, on Mar 7, 2016, Marian M Durkin (Senior Vice President) sold 3,500 shares at $38.08 per share price. On Mar 2, 2016, James M Kensok (Vice President) sold 1,000 shares at $37.53 per share price, according to the Form-4 filing with the securities and exchange commission.
Avista Corporation is primarily an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities and Alaska Electric Light and Power Company (AEL&P). Avista Utilities provides electric distribution and transmission as well as natural gas distribution services in parts of eastern Washington and northern Idaho. It also provides natural gas distribution service in parts of northeastern and southwestern Oregon. AEL&P owns and operates electric generation transmission and distribution facilities located in Juneau. The Company operates other businesses including sheet metal fabrication venture fund investments and real estate investments.