Avaya (NYSE:AVYA) Updates FY 2022 Earnings Guidance

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

Avaya stock opened at $4.94 on Thursday. Avaya has a 12-month low of $4.88 and a 12-month high of $29.55. The company has a quick ratio of 1.61, a current ratio of 1.66 and a debt-to-equity ratio of 6.54. The business’s 50-day moving average price is $10.93 and its two-hundred day moving average price is $15.65. The stock has a market cap of $424.05 million, a PE ratio of -15.44 and a beta of 1.60.

Avaya (NYSE:AVYA – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.08). Avaya had a positive return on equity of 51.82% and a negative net margin of 0.62%. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $737.62 million. During the same quarter last year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, analysts expect that Avaya will post 2 earnings per share for the current year.

Several research analysts have recently weighed in on AVYA shares. JPMorgan Chase & Co. downgraded Avaya from a neutral rating to an underweight rating and cut their price target for the stock from $16.00 to $7.00 in a research note on Wednesday, May 11th. Zacks Investment Research downgraded Avaya from a buy rating to a strong sell rating in a research note on Friday, May 13th. Barclays downgraded Avaya from an equal weight rating to an underweight rating and cut their price target for the stock from $8.00 to $5.00 in a research note on Tuesday. Craig Hallum cut their price target on Avaya from $30.00 to $13.00 in a research note on Wednesday, May 11th. Finally, TheStreet downgraded Avaya from a c rating to a d+ rating in a research note on Wednesday, February 9th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $14.80.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in shares of Avaya by 9.9% during the 4th quarter. Invesco Ltd. now owns 236,603 shares of the company’s stock valued at $4,685,000 after buying an additional 21,384 shares in the last quarter. California State Teachers Retirement System grew its position in Avaya by 2.1% during the 4th quarter. California State Teachers Retirement System now owns 116,143 shares of the company’s stock worth $2,300,000 after acquiring an additional 2,380 shares during the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in Avaya during the 4th quarter worth approximately $2,201,000. Parametric Portfolio Associates LLC grew its position in Avaya by 10.2% during the 4th quarter. Parametric Portfolio Associates LLC now owns 103,095 shares of the company’s stock worth $2,041,000 after acquiring an additional 9,548 shares during the last quarter. Finally, Engineers Gate Manager LP grew its position in Avaya by 327.2% during the 1st quarter. Engineers Gate Manager LP now owns 142,714 shares of the company’s stock worth $1,808,000 after acquiring an additional 109,304 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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