Zacks: Analysts Anticipate Avangrid, Inc. (NYSE:AGR) to Announce $0.37 EPS

Wall Street brokerages predict that Avangrid, Inc. (NYSE:AGR) will post earnings of $0.37 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Avangrid’s earnings, with estimates ranging from $0.32 to $0.44. Avangrid reported earnings of $0.32 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The business is scheduled to report its next earnings results on Tuesday, October 19th.

According to Zacks, analysts expect that Avangrid will report full year earnings of $2.29 per share for the current financial year, with EPS estimates ranging from $2.15 to $2.50. For the next financial year, analysts anticipate that the company will post earnings of $2.46 per share, with EPS estimates ranging from $2.44 to $2.50. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Avangrid.

Avangrid (NYSE:AGR) last released its earnings results on Monday, July 19th. The utilities provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.07). Avangrid had a net margin of 10.41% and a return on equity of 4.82%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $0.32 EPS. The company’s revenue was up 6.1% compared to the same quarter last year.

AGR has been the topic of several research analyst reports. Mizuho initiated coverage on Avangrid in a research note on Tuesday, May 4th. They set a “neutral” rating and a $52.00 target price on the stock. Zacks Investment Research cut Avangrid from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Barclays started coverage on Avangrid in a research note on Thursday, May 20th. They issued an “equal weight” rating and a $56.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $54.17.

A number of institutional investors and hedge funds have recently bought and sold shares of AGR. Bessemer Group Inc. acquired a new stake in Avangrid in the 1st quarter worth approximately $30,000. Eaton Vance Management acquired a new stake in Avangrid in the 1st quarter worth approximately $33,000. Quadrant Capital Group LLC lifted its holdings in Avangrid by 30.2% in the 1st quarter. Quadrant Capital Group LLC now owns 884 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 205 shares during the last quarter. JJJ Advisors Inc. lifted its holdings in Avangrid by 621.5% in the 1st quarter. JJJ Advisors Inc. now owns 938 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 808 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Avangrid by 726.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,735 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 1,525 shares during the last quarter. Hedge funds and other institutional investors own 13.24% of the company’s stock.

NYSE:AGR traded down $0.03 on Friday, hitting $51.46. 697 shares of the company’s stock traded hands, compared to its average volume of 393,317. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.07 and a current ratio of 1.16. Avangrid has a 1 year low of $44.02 and a 1 year high of $56.20. The firm’s 50-day simple moving average is $52.65. The firm has a market capitalization of $15.92 billion, a P/E ratio of 23.62, a PEG ratio of 3.11 and a beta of 0.23.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be paid a $0.44 dividend. The ex-dividend date is Thursday, September 2nd. This represents a $1.76 annualized dividend and a dividend yield of 3.42%. Avangrid’s payout ratio is 87.13%.

Avangrid Company Profile

Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relating to renewable energy, mainly wind energy generation and trading related with such activities.

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Earnings History and Estimates for Avangrid (NYSE:AGR)

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