Avaya Holdings Corp. (NYSE:AVYA – Get Rating) has been assigned an average rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $14.13.
A number of research firms recently commented on AVYA. Zacks Investment Research cut Avaya from a “buy” rating to a “strong sell” rating in a report on Friday, May 13th. TheStreet cut Avaya from a “c” rating to a “d+” rating in a research note on Wednesday, February 9th. Cowen cut Avaya from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $26.00 to $6.00 in a research note on Friday, May 13th. JPMorgan Chase & Co. cut Avaya from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $16.00 to $7.00 in a research note on Wednesday, May 11th. Finally, Craig Hallum decreased their price target on Avaya from $30.00 to $13.00 in a research note on Wednesday, May 11th.
A number of large investors have recently bought and sold shares of AVYA. Capital World Investors increased its holdings in Avaya by 123.2% in the fourth quarter. Capital World Investors now owns 6,038,354 shares of the company’s stock valued at $119,559,000 after buying an additional 3,333,354 shares during the last quarter. Contour Asset Management LLC increased its holdings in Avaya by 40.0% in the fourth quarter. Contour Asset Management LLC now owns 6,195,839 shares of the company’s stock valued at $122,678,000 after buying an additional 1,769,074 shares during the last quarter. American Century Companies Inc. increased its holdings in Avaya by 29.7% in the first quarter. American Century Companies Inc. now owns 5,860,505 shares of the company’s stock valued at $74,253,000 after buying an additional 1,342,087 shares during the last quarter. FMR LLC purchased a new position in Avaya in the first quarter valued at $20,120,000. Finally, Norges Bank acquired a new position in Avaya in the fourth quarter valued at $16,824,000.
Avaya (NYSE:AVYA – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.53 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 business had revenue of $716.00 million during the quarter, compared to analyst estimates of $737.62 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. As a group, analysts predict that Avaya will post 1.67 earnings per share for the current year.
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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