Avangrid (NYSE:AGR) Releases Quarterly Earnings Results, Beats Estimates By $0.40 EPS

Avangrid (NYSE:AGR) issued its quarterly earnings results on Sunday. The utilities provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.40, MarketWatch Earnings reports. Avangrid had a net margin of 10.19% and a return on equity of 4.20%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company earned $0.76 EPS. Avangrid’s quarterly revenue was up 9.9% on a year-over-year basis.

Shares of Avangrid stock traded up $0.68 on Tuesday, reaching $51.64. The company’s stock had a trading volume of 748,479 shares, compared to its average volume of 587,703. The stock has a 50-day moving average price of $50.42 and a 200-day moving average price of $48.02. Avangrid has a 52-week low of $38.78 and a 52-week high of $56.20. The company has a market capitalization of $15.98 billion, a P/E ratio of 25.09, a PEG ratio of 4.35 and a beta of 0.21. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.45.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.41%. Avangrid’s dividend payout ratio is presently 81.11%.

Several research analysts recently issued reports on AGR shares. Mizuho initiated coverage on shares of Avangrid in a report on Tuesday. They set a “neutral” rating and a $52.00 target price for the company. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 26th. Finally, Janney Montgomery Scott upgraded Avangrid from a “neutral” rating to a “buy” rating and upped their target price for the stock from $45.00 to $55.00 in a research note on Thursday, February 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Avangrid currently has an average rating of “Hold” and an average target price of $53.00.

Avangrid Company Profile

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.

Further Reading: Catch-Up Contributions

Earnings History for Avangrid (NYSE:AGR)

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