Avaya (NYSE:AVYA) Updates FY 2022 Earnings Guidance

Avaya (NYSE:AVYAGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.09-$2.25 for the period, compared to the consensus estimate of $2.80. The company issued revenue guidance of $2.81 billion-$2.85 billion, compared to the consensus revenue estimate of $3.00 billion.Avaya also updated its Q3 2022 guidance to $0.48-$0.56 EPS.

Shares of AVYA opened at $5.80 on Tuesday. Avaya has a twelve month low of $5.54 and a twelve month high of $29.55. The firm has a market capitalization of $497.87 million, a P/E ratio of -18.13 and a beta of 1.60. The company has a current ratio of 1.66, a quick ratio of 1.61 and a debt-to-equity ratio of 6.54. The stock’s fifty day simple moving average is $11.25 and its 200 day simple moving average is $15.79.

Avaya (NYSE:AVYAGet Rating) last announced 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). The firm had revenue of $716.00 million for the quarter, compared to analyst estimates of $737.62 million. Avaya had a positive return on equity of 51.82% and a negative net margin of 0.62%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Sell-side analysts predict that Avaya will post 2 earnings per share for the current year.

Several equities research analysts have issued reports on AVYA shares. Cowen downgraded shares of Avaya from an outperform rating to a market perform rating and decreased their price objective for the stock from $26.00 to $6.00 in a research note on Friday. TheStreet cut shares of Avaya from a c rating to a d+ rating in a research report on Wednesday, February 9th. JPMorgan Chase & Co. lowered Avaya from a neutral rating to an underweight rating and cut their price objective for the company from $16.00 to $7.00 in a research report on Wednesday, May 11th. Cowen downgraded Avaya from an outperform rating to a market perform rating and decreased their target price for the stock from $26.00 to $6.00 in a research report on Friday. Finally, Barclays dropped their target price on Avaya from $11.00 to $8.00 in a report on Wednesday, May 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Avaya presently has an average rating of Hold and an average price target of $15.10.

A number of hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in 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 during the last quarter. US Bancorp DE lifted its position in shares of Avaya by 3,191.3% during the first quarter. US Bancorp DE now owns 10,532 shares of the company’s stock worth $133,000 after purchasing an additional 10,212 shares during the last quarter. LPL Financial LLC grew its stake in Avaya by 4.8% in the third 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. HighTower Advisors LLC increased its holdings in Avaya by 82.6% in the first quarter. HighTower Advisors LLC now owns 24,351 shares of the company’s stock valued at $309,000 after buying an additional 11,016 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its stake in Avaya by 10.9% during the fourth quarter. Vident Investment Advisory LLC now owns 15,843 shares of the company’s stock valued at $314,000 after buying an additional 1,552 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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