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


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

Shares of NYSE AGR traded up $0.68 during trading on Tuesday, reaching $51.64. 748,479 shares of the stock traded hands, compared to its average volume of 587,703. 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 current ratio of 0.46 and a quick ratio of 0.40. The company has a 50-day moving average of $50.47 and a 200-day moving average of $48.00. The stock has a market capitalization of $15.98 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 4.35 and a beta of 0.21.

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

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

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Earnings History for Avangrid (NYSE:AGR)

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