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


Share on StockTwits

Avangrid (NYSE:AGR) announced its earnings results on Sunday. The utilities provider reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.40, MarketWatch Earnings reports. Avangrid had a return on equity of 4.20% and a net margin of 10.19%. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm earned $0.76 EPS. Avangrid’s revenue for the quarter was up 9.9% compared to the same quarter last year.

AGR stock traded up $0.80 during trading on Tuesday, hitting $51.76. 23,056 shares of the company’s stock traded hands, compared to its average volume of 585,766. The business has a fifty day simple moving average of $50.42 and a 200 day simple moving average of $48.02. Avangrid has a 52 week low of $38.78 and a 52 week high of $56.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.46. The stock has a market capitalization of $16.02 billion, a price-to-earnings ratio of 25.09, 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. Investors of record on Friday, June 4th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Thursday, June 3rd. Avangrid’s dividend payout ratio (DPR) is presently 81.11%.

A number of analysts have commented on the company. Mizuho started coverage on Avangrid in a research report on Tuesday. They issued a “neutral” rating and a $52.00 price target for the company. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 26th. Finally, Janney Montgomery Scott raised shares of Avangrid from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.00 to $55.00 in a report on Thursday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Avangrid has a consensus rating of “Hold” and a consensus price target of $53.00.

About Avangrid

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.

Recommended Story: What does a bar chart mean for investors?

Earnings History for Avangrid (NYSE:AGR)

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