Avangrid (AGR) Issues FY18 Earnings Guidance

Avangrid (NYSE:AGR) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.22-2.50 for the period, compared to the Thomson Reuters consensus estimate of $2.44.

Shares of Avangrid (AGR) traded up $0.49 during trading on Wednesday, reaching $49.57. 630,441 shares of the company were exchanged, compared to its average volume of 572,505. The stock has a market cap of $15,170.00 and a price-to-earnings ratio of 190.65. Avangrid has a 1 year low of $41.86 and a 1 year high of $53.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.69 and a quick ratio of 0.56.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.61 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.61. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Avangrid had a net margin of 6.39% and a return on equity of 4.47%. Avangrid’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.67 EPS. equities analysts anticipate that Avangrid will post 2.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be issued a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.49%. Avangrid’s dividend payout ratio is currently 665.38%.

A number of brokerages have recently issued reports on AGR. Zacks Investment Research downgraded shares of Avangrid from a hold rating to a sell rating in a report on Tuesday, December 26th. TheStreet upgraded shares of Avangrid from a c rating to a b- rating in a report on Monday, December 18th. Guggenheim set a $55.00 target price on shares of Avangrid and gave the company a buy rating in a report on Thursday, February 15th. Wells Fargo & Co reissued a market perform rating and issued a $51.00 price target (down previously from $54.00) on shares of Avangrid in a research report on Wednesday, February 21st. Finally, Bank of America reissued a buy rating and issued a $53.00 price target (up previously from $52.00) on shares of Avangrid in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $50.50.

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Avangrid Company Profile

Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.

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