$1.56 Billion in Sales Expected for Avangrid, Inc. (NYSE:AGR) This Quarter

Analysts forecast that Avangrid, Inc. (NYSE:AGR) will post $1.56 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Avangrid’s earnings, with the highest sales estimate coming in at $1.58 billion and the lowest estimate coming in at $1.54 billion. Avangrid posted sales of $1.47 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.1%. The company is scheduled to announce its next earnings results on Tuesday, October 19th.

According to Zacks, analysts expect that Avangrid will report full-year sales of $6.66 billion for the current financial year, with estimates ranging from $6.57 billion to $6.81 billion. For the next year, analysts expect that the firm will post sales of $7.28 billion, with estimates ranging from $6.77 billion to $8.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Avangrid.

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

Several analysts have weighed in on AGR shares. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Monday, August 2nd. Mizuho boosted their price objective on Avangrid from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, August 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $54.33.

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its position in shares of Avangrid by 8.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 32,709 shares of the utilities provider’s stock valued at $1,629,000 after purchasing an additional 2,613 shares during the period. Squarepoint Ops LLC boosted its position in Avangrid by 27.5% during the 1st quarter. Squarepoint Ops LLC now owns 31,648 shares of the utilities provider’s stock worth $1,576,000 after acquiring an additional 6,822 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Avangrid by 24.5% during the 1st quarter. JPMorgan Chase & Co. now owns 784,478 shares of the utilities provider’s stock worth $39,075,000 after acquiring an additional 154,138 shares during the last quarter. Harrington Investments INC boosted its position in Avangrid by 31.3% during the 2nd quarter. Harrington Investments INC now owns 17,378 shares of the utilities provider’s stock worth $894,000 after acquiring an additional 4,143 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Avangrid by 1.8% during the 1st quarter. Royal Bank of Canada now owns 4,014,531 shares of the utilities provider’s stock worth $199,965,000 after acquiring an additional 70,618 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

NYSE:AGR traded down $0.30 on Wednesday, hitting $50.12. 382,436 shares of the stock were exchanged, compared to its average volume of 520,440. The stock has a market capitalization of $19.41 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 3.20 and a beta of 0.23. 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 quick ratio of 1.15 and a current ratio of 1.24. The company’s 50-day moving average price is $53.28 and its 200 day moving average price is $51.96.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.51%. Avangrid’s dividend payout ratio (DPR) is presently 87.13%.

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.

Recommended Story: How Important is Technical Analysis of Stocks

Get a free copy of the Zacks research report on Avangrid (AGR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Avangrid (NYSE:AGR)

Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.