$691.19 Million in Sales Expected for Avaya Holdings Corp. (NYSE:AVYA) This Quarter

Equities analysts predict that Avaya Holdings Corp. (NYSE:AVYAGet Rating) will report sales of $691.19 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Avaya’s earnings. The lowest sales estimate is $687.50 million and the highest is $696.06 million. Avaya reported sales of $732.00 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.6%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Avaya will report full-year sales of $2.85 billion for the current year, with estimates ranging from $2.84 billion to $2.86 billion. For the next financial year, analysts forecast that the firm will post sales of $2.96 billion, with estimates ranging from $2.86 billion to $3.12 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Avaya.

Avaya (NYSE:AVYAGet Rating) last issued 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). The business had revenue of $716.00 million during the quarter, compared to analyst estimates of $737.62 million. Avaya had a negative net margin of 0.62% and a positive return on equity of 51.82%. Avaya’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share.

AVYA has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Avaya from a “buy” rating to a “strong sell” rating in a research report on Friday, May 13th. Cowen downgraded Avaya from an “outperform” rating to a “market perform” rating and cut their price target for the company from $26.00 to $6.00 in a report on Friday, May 13th. Craig Hallum cut their price target on Avaya from $30.00 to $13.00 in a report on Wednesday, May 11th. JPMorgan Chase & Co. downgraded Avaya from a “neutral” rating to an “underweight” rating and cut their price target for the company from $16.00 to $7.00 in a report on Wednesday, May 11th. Finally, Cowen downgraded Avaya from an “outperform” rating to a “market perform” rating and cut their price target for the company from $26.00 to $6.00 in a report on Friday, May 13th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.80.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in Avaya in the 1st quarter valued at $20,120,000. First Trust Advisors LP increased its holdings in Avaya by 20.4% in the 1st quarter. First Trust Advisors LP now owns 146,131 shares of the company’s stock valued at $2,459,000 after purchasing an additional 24,764 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Avaya by 31.2% in the 3rd quarter. Principal Financial Group Inc. now owns 17,311 shares of the company’s stock valued at $343,000 after purchasing an additional 4,114 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Avaya by 18.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 13,518 shares of the company’s stock valued at $268,000 after purchasing an additional 2,117 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Avaya by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,309,731 shares of the company’s stock valued at $25,919,000 after purchasing an additional 14,016 shares in the last quarter.

Shares of NYSE AVYA opened at $3.73 on Tuesday. Avaya has a 52 week low of $2.93 and a 52 week high of $29.55. The stock has a market cap of $320.17 million, a price-to-earnings ratio of -11.66 and a beta of 1.60. The company’s 50-day moving average price is $9.53 and its 200 day moving average price is $14.65. The company has a current ratio of 1.66, a quick ratio of 1.61 and a debt-to-equity ratio of 6.54.

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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