Avaya (NYSE:AVYA) Issues Q3 2022 Earnings Guidance

Avaya (NYSE:AVYAGet Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.48-$0.56 for the period, compared to the consensus 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.

Several research firms recently issued reports on AVYA. Cowen downgraded Avaya from an outperform rating to a market perform rating and reduced their price target for the company from $26.00 to $6.00 in a research note on Friday. BWS Financial cut shares of Avaya from a buy rating to a sell rating in a research report on Thursday, May 12th. Zacks Investment Research downgraded shares of Avaya from a buy rating to a strong sell rating in a research note on Friday. JPMorgan Chase & Co. cut shares of Avaya from a neutral rating to an underweight rating and dropped their price objective for the stock from $16.00 to $7.00 in a research note on Wednesday, May 11th. Finally, Barclays decreased their target price on shares of Avaya from $11.00 to $8.00 in a research report on Wednesday, May 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $15.10.

AVYA stock opened at $5.80 on Tuesday. The company’s 50-day moving average price is $11.25 and its two-hundred day moving average price is $15.79. The firm has a market cap of $497.87 million, a P/E ratio of -18.13 and a beta of 1.60. 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 12 month low of $5.54 and a 12 month high of $29.55.

Avaya (NYSE:AVYAGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.08). Avaya had a positive return on equity of 51.82% and a negative net margin of 0.62%. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates of $737.62 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Avaya will post 2 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its position in 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 purchasing an additional 671 shares in the last quarter. Vident Investment Advisory LLC increased its holdings in shares of Avaya by 10.9% during the fourth quarter. Vident Investment Advisory LLC now owns 15,843 shares of the company’s stock worth $314,000 after buying an additional 1,552 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Avaya by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 116,143 shares of the company’s stock worth $2,300,000 after buying an additional 2,380 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 acquiring an additional 4,878 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Avaya by 1,801.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,507 shares of the company’s stock valued at $121,000 after acquiring an additional 9,007 shares in the last quarter.

About Avaya (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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