Brokerages Expect Avangrid, Inc. (NYSE:AGR) Will Post Earnings of $0.32 Per Share

Wall Street brokerages forecast that Avangrid, Inc. (NYSE:AGR) will post earnings per share of $0.32 for the current quarter, according to Zacks. Three analysts have made estimates for Avangrid’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.27. Avangrid also posted earnings per share of $0.32 in the same quarter last year. The company is scheduled to announce its next quarterly earnings results on Tuesday, October 19th.

On average, analysts expect that Avangrid will report full-year earnings of $2.18 per share for the current fiscal year, with EPS estimates ranging from $2.12 to $2.28. For the next financial year, analysts expect that the firm will report earnings of $2.41 per share, with EPS estimates ranging from $2.00 to $2.52. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Avangrid.

Avangrid (NYSE:AGR) last announced its earnings results on Monday, July 19th. The utilities provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Avangrid had a net margin of 10.41% and a return on equity of 4.54%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company posted $0.32 earnings per share. Avangrid’s quarterly revenue was up 6.1% on a year-over-year basis.

A number of equities research analysts have recently commented on the stock. Mizuho upped their target price on shares of Avangrid from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, August 24th. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Monday, August 2nd. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.33.

Shares of NYSE:AGR traded down $0.30 on Monday, reaching $50.12. The company’s stock had a trading volume of 382,436 shares, compared to its average volume of 520,440. The stock’s 50-day moving average is $53.28 and its two-hundred day moving average is $51.96. Avangrid has a 52-week low of $44.02 and a 52-week high of $56.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.24 and a quick ratio of 1.15. The stock has a market capitalization of $19.41 billion, a P/E ratio of 22.91, a PEG ratio of 3.20 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 issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $1.76 annualized dividend and a yield of 3.51%. Avangrid’s dividend payout ratio is currently 87.13%.

A number of institutional investors and hedge funds have recently modified their holdings of AGR. Deseret Mutual Benefit Administrators acquired a new position in Avangrid during the second quarter worth about $27,000. SRS Capital Advisors Inc. acquired a new position in Avangrid during the second quarter worth about $29,000. Bessemer Group Inc. acquired a new position in Avangrid during the first quarter worth about $30,000. Eaton Vance Management acquired a new position in Avangrid during the first quarter worth about $33,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Avangrid in the second quarter valued at approximately $35,000. Institutional investors own 10.69% of the company’s stock.

About Avangrid

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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