Avaya (NYSE:AVYA) Issues FY 2022 Earnings Guidance

Avaya (NYSE:AVYA – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $2.09-$2.25 for the period, compared to the consensus EPS 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.

A number of equities analysts have issued reports on the stock. TheStreet downgraded shares of Avaya from a c rating to a d+ rating in a report on Wednesday, February 9th. Cowen downgraded shares of Avaya from an outperform rating to a market perform rating and cut their price objective for the stock from $26.00 to $6.00 in a report on Friday, May 13th. Barclays downgraded shares of Avaya from an equal weight rating to an underweight rating and cut their price objective for the stock from $8.00 to $5.00 in a report on Tuesday, May 17th. Craig Hallum cut their price objective on shares of Avaya from $30.00 to $13.00 in a report on Wednesday, May 11th. Finally, JPMorgan Chase & Co. downgraded shares of Avaya from a neutral rating to an underweight rating and cut their price objective for the stock from $16.00 to $7.00 in a report on Wednesday, May 11th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $14.80.

Shares of Avaya stock opened at $4.11 on Tuesday. Avaya has a 52-week low of $4.06 and a 52-week high of $29.55. The stock’s 50-day simple moving average is $10.49 and its 200 day simple moving average is $15.26. The stock has a market capitalization of $352.79 million, a P/E ratio of -12.84 and a beta of 1.60. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.61 and a current ratio of 1.66.

Avaya (NYSE:AVYA – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $737.62 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. Equities research analysts forecast that Avaya will post 1.67 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in AVYA. Capital World Investors boosted its holdings in 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 during the period. Dimensional Fund Advisors LP boosted its holdings in 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 during the period. Geode Capital Management LLC boosted its holdings in 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 during the period. Sei Investments Co. boosted its holdings in Avaya by 31.6% in the 1st quarter. Sei Investments Co. now owns 1,180,784 shares of the company’s stock valued at $14,960,000 after purchasing an additional 283,667 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Avaya by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 877,633 shares of the company’s stock worth $11,120,000 after acquiring 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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