Avaya (NYSE:AVYA) Announces Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Avaya (NYSE:AVYA – Get Rating) issued its quarterly earnings results on Tuesday. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.08), MarketWatch Earnings reports. Avaya had a positive return on equity of 59.67% and a negative net margin of 2.55%. The business had revenue of $716.00 million during the quarter, compared to analyst estimates of $737.62 million. During the same quarter last year, the company posted $0.60 EPS. Avaya’s quarterly revenue was down 3.0% compared to the same quarter last year. Avaya updated its Q3 guidance to $0.48-$0.56 EPS and its FY22 guidance to $2.09-$2.25 EPS.

AVYA stock traded down $1.07 during midday trading on Tuesday, reaching $7.15. The stock had a trading volume of 107,334 shares, compared to its average volume of 1,275,844. The company’s fifty day simple moving average is $11.91 and its 200 day simple moving average is $16.20. The company has a current ratio of 1.45, a quick ratio of 1.40 and a debt-to-equity ratio of 7.42. The company has a market cap of $607.24 million, a price-to-earnings ratio of -7.25 and a beta of 1.60. Avaya has a 52-week low of $7.89 and a 52-week high of $29.55.

A number of equities research analysts have recently commented on AVYA shares. TheStreet cut shares of Avaya from a “c” rating to a “d+” rating in a research note on Wednesday, February 9th. BWS Financial dropped their price objective on shares of Avaya from $40.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 10th. Zacks Investment Research raised shares of Avaya from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, April 20th. Citigroup dropped their price target on shares of Avaya from $25.00 to $17.00 in a research note on Thursday, February 10th. Finally, Barclays dropped their price target on shares of Avaya from $16.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 26th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.25.

Hedge funds and other institutional investors have recently bought and sold shares of the company. LPL Financial LLC raised its holdings in shares of Avaya by 4.8% during the 3rd quarter. LPL Financial LLC now owns 14,640 shares of the company’s stock worth $290,000 after acquiring an additional 671 shares during the period. Vident Investment Advisory LLC raised its holdings in shares of Avaya by 10.9% during the 4th quarter. Vident Investment Advisory LLC now owns 15,843 shares of the company’s stock worth $314,000 after acquiring an additional 1,552 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Avaya by 10.2% during the 4th quarter. Parametric Portfolio Associates LLC now owns 103,095 shares of the company’s stock worth $2,041,000 after acquiring an additional 9,548 shares during the period. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Avaya during the 4th quarter worth $2,201,000. Finally, California State Teachers Retirement System raised its holdings in shares of Avaya by 2.1% during the 4th quarter. California State Teachers Retirement System now owns 116,143 shares of the company’s stock worth $2,300,000 after acquiring an additional 2,380 shares during the period.

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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