Avaya (NYSE:AVYA) Updates Q3 2022 Earnings Guidance

Avaya (NYSE:AVYAGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.48-$0.56 for the period, compared to the consensus earnings per share estimate of $0.84. The company issued revenue guidance of $685.00 million-$700.00 million, compared to the consensus revenue estimate of $758.38 million.Avaya also updated its FY 2022 guidance to $2.09-$2.25 EPS.

AVYA has been the subject of a number of recent research reports. TheStreet downgraded shares of Avaya from a c rating to a d+ rating in a report on Wednesday, February 9th. Barclays downgraded shares of Avaya from an equal weight rating to an underweight rating and cut their price objective for the company from $8.00 to $5.00 in a report on Tuesday, May 17th. Zacks Investment Research downgraded shares of Avaya from a buy rating to a strong sell rating in a report on Friday, May 13th. JPMorgan Chase & Co. downgraded shares of Avaya from a neutral rating to an underweight rating and cut their price target for the stock from $16.00 to $7.00 in a report on Wednesday, May 11th. Finally, BWS Financial cut shares of Avaya from a buy rating to a sell rating in a research report on Thursday, May 12th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Avaya presently has an average rating of Hold and an average target price of $14.80.

Shares of AVYA stock opened at $4.11 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.66 and a debt-to-equity ratio of 6.54. Avaya has a 52 week low of $4.06 and a 52 week high of $29.55. The stock has a market capitalization of $352.79 million, a PE ratio of -12.84 and a beta of 1.60. The firm has a 50 day moving average of $10.49 and a two-hundred day moving average of $15.26.

Avaya (NYSE:AVYAGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.08). Avaya had a negative net margin of 0.62% and a positive return on equity of 51.82%. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $737.62 million. During the same period in the prior year, the business earned $0.60 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Analysts expect that Avaya will post 1.67 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of Avaya by 29.0% in the 1st quarter. Capital World Investors now owns 7,790,941 shares of the company’s stock valued at $98,711,000 after purchasing an additional 1,752,587 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Avaya by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,995,814 shares of the company’s stock valued at $25,288,000 after purchasing an additional 83,899 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Avaya by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 1,370,384 shares of the company’s stock valued at $27,133,000 after purchasing an additional 60,653 shares in the last quarter. Sei Investments Co. increased its position in shares of Avaya by 31.6% during the first quarter. Sei Investments Co. now owns 1,180,784 shares of the company’s stock worth $14,960,000 after purchasing an additional 283,667 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Avaya by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 877,633 shares of the company’s stock valued at $11,120,000 after purchasing an additional 4,878 shares during the last quarter.

Avaya Company Profile (Get Rating)

Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates in two segments, Products & Solutions and Services. The Products & Solutions segment offers unified communications and collaboration (UCC), and contact center (CC) platforms, applications, and devices.

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