Brokerages expect that Avaya Holdings Corp (NYSE:AVYA) will post $742.00 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Avaya’s earnings, with estimates ranging from $732.00 million to $752.00 million. Avaya reported sales of $672.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.4%. The company is expected to announce its next earnings report on Thursday, May 9th.
According to Zacks, analysts expect that Avaya will report full-year sales of $3.06 billion for the current financial year, with estimates ranging from $3.01 billion to $3.10 billion. For the next year, analysts forecast that the company will post sales of $3.07 billion, with estimates ranging from $2.95 billion to $3.19 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Avaya.
Avaya (NYSE:AVYA) last posted its quarterly earnings results on Monday, February 11th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.09). The firm had revenue of $738.00 million during the quarter, compared to analyst estimates of $761.50 million. Avaya had a net margin of 2.08% and a return on equity of 16.22%.
AVYA has been the subject of a number of recent research reports. Guggenheim initiated coverage on Avaya in a report on Monday, March 11th. They issued a “buy” rating and a $22.00 target price for the company. Zacks Investment Research upgraded Avaya from a “sell” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, February 5th. Morgan Stanley assumed coverage on Avaya in a research report on Monday, January 7th. They issued an “equal weight” rating and a $18.50 price target on the stock. Barclays restated a “hold” rating and issued a $20.00 price target on shares of Avaya in a research report on Wednesday, December 5th. Finally, Goldman Sachs Group assumed coverage on Avaya in a research report on Monday, December 17th. They issued a “neutral” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Avaya presently has a consensus rating of “Hold” and a consensus target price of $20.92.
A number of hedge funds have recently bought and sold shares of AVYA. Lancaster Investment Management LLP bought a new stake in shares of Avaya in the fourth quarter valued at approximately $31,390,000. Rubric Capital Management LP raised its position in Avaya by 2,430.1% during the third quarter. Rubric Capital Management LP now owns 1,874,060 shares of the company’s stock valued at $41,492,000 after purchasing an additional 1,799,990 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Avaya during the third quarter valued at approximately $38,340,000. Wells Fargo & Company MN raised its position in Avaya by 289.3% during the third quarter. Wells Fargo & Company MN now owns 1,698,927 shares of the company’s stock valued at $37,614,000 after purchasing an additional 1,262,554 shares in the last quarter. Finally, HPS Investment Partners LLC acquired a new position in Avaya during the fourth quarter valued at approximately $13,486,000. Hedge funds and other institutional investors own 97.98% of the company’s stock.
Shares of AVYA traded down $0.53 during mid-day trading on Wednesday, reaching $13.82. The company had a trading volume of 962,233 shares, compared to its average volume of 990,828. Avaya has a twelve month low of $13.80 and a twelve month high of $23.76. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.45. The stock has a market cap of $1.60 billion, a PE ratio of 5.12 and a beta of 1.35.
Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates through two segments, Products & Solutions, and Services. The Products & Solutions segment offers unified communications and contact center platforms, applications, and devices.
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