Avangrid (NYSE:AGR) posted its quarterly earnings results on Sunday. The utilities provider reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.40, MarketWatch Earnings reports. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.82 billion. Avangrid had a net margin of 10.19% and a return on equity of 4.20%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share.
AGR traded up $0.68 on Tuesday, reaching $51.64. The company had a trading volume of 748,479 shares, compared to its average volume of 587,703. Avangrid has a 1 year low of $38.78 and a 1 year high of $56.20. The stock has a market capitalization of $15.98 billion, a PE ratio of 25.09, a P/E/G 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 stock has a 50-day moving average price of $50.42 and a 200-day moving average price of $48.02.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.41%. Avangrid’s dividend payout ratio (DPR) is presently 81.11%.
A number of equities analysts recently commented on AGR shares. Janney Montgomery Scott upgraded shares of Avangrid from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $55.00 in a research note on Thursday, February 25th. Mizuho started coverage on shares of Avangrid in a research note on Tuesday. They set a “neutral” rating and a $52.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target 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.
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