Wall Street analysts predict that Avangrid, Inc. (NYSE:AGR) will announce sales of $1.79 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Avangrid’s earnings. The lowest sales estimate is $1.77 billion and the highest is $1.82 billion. Avangrid also reported sales of $1.79 billion during the same quarter last year. The business is scheduled to issue its next earnings report after the market closes on Monday, May 3rd.
According to Zacks, analysts expect that Avangrid will report full year sales of $6.49 billion for the current financial year, with estimates ranging from $6.37 billion to $6.73 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.71 billion, with estimates ranging from $6.59 billion to $6.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Avangrid.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Monday, February 22nd. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Avangrid had a return on equity of 4.20% and a net margin of 10.19%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share.
Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Avangrid in the 4th quarter worth approximately $63,187,000. Jupiter Asset Management Ltd. grew its position in Avangrid by 1,505.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 567,772 shares of the utilities provider’s stock worth $25,794,000 after purchasing an additional 532,417 shares during the period. Robecosam AG grew its position in Avangrid by 38.9% in the 4th quarter. Robecosam AG now owns 848,400 shares of the utilities provider’s stock worth $38,560,000 after purchasing an additional 237,400 shares during the period. BlackRock Inc. grew its position in Avangrid by 4.4% in the 4th quarter. BlackRock Inc. now owns 4,046,661 shares of the utilities provider’s stock worth $183,922,000 after purchasing an additional 170,556 shares during the period. Finally, 44 Wealth Management LLC bought a new stake in Avangrid in the 4th quarter worth approximately $5,232,000. Hedge funds and other institutional investors own 13.74% of the company’s stock.
AGR traded down $0.95 on Friday, hitting $52.27. The company had a trading volume of 638,405 shares, compared to its average volume of 606,539. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.46 and a quick ratio of 0.40. Avangrid has a 52-week low of $38.78 and a 52-week high of $56.20. The stock has a fifty day simple moving average of $49.26 and a 200-day simple moving average of $48.24. The firm has a market capitalization of $16.18 billion, a P/E ratio of 25.37, a P/E/G ratio of 4.35 and a beta of 0.21.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 4th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.37%. Avangrid’s payout ratio is 81.11%.
Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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