Zacks: Brokerages Anticipate Avaya Holdings Corp (AVYA) to Post $0.64 EPS

Equities analysts predict that Avaya Holdings Corp (NYSE:AVYA) will announce $0.64 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Avaya’s earnings, with estimates ranging from $0.61 to $0.67. Avaya posted earnings of $0.41 per share in the same quarter last year, which suggests a positive year over year growth rate of 56.1%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 8th.

On average, analysts expect that Avaya will report full year earnings of $3.16 per share for the current year, with EPS estimates ranging from $3.06 to $3.26. For the next financial year, analysts anticipate that the business will post earnings of $2.78 per share, with EPS estimates ranging from $2.67 to $2.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Avaya.

Avaya (NYSE:AVYA) last issued its earnings results on Thursday, May 9th. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. Avaya had a net margin of 6.12% and a return on equity of 15.77%. The business had revenue of $714.00 million for the quarter, compared to the consensus estimate of $748.47 million. The business’s quarterly revenue was down 5.7% on a year-over-year basis.

A number of equities analysts have recently commented on AVYA shares. Barclays raised shares of Avaya from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $21.00 in a research note on Friday, January 25th. Zacks Investment Research downgraded shares of Avaya from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Guggenheim started coverage on shares of Avaya in a research note on Monday, March 11th. They issued a “buy” rating and a $22.00 target price on the stock. Northland Securities reissued a “buy” rating and issued a $21.00 target price on shares of Avaya in a research note on Friday, May 10th. Finally, BWS Financial cut their target price on shares of Avaya from $32.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.06.

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Avaya by 2.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,816,231 shares of the company’s stock worth $217,330,000 after buying an additional 225,882 shares during the period. Vanguard Group Inc. increased its stake in Avaya by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 9,335,685 shares of the company’s stock worth $206,693,000 after buying an additional 184,744 shares during the period. BlackRock Inc. increased its stake in Avaya by 2.9% during the 4th quarter. BlackRock Inc. now owns 7,469,484 shares of the company’s stock worth $108,756,000 after buying an additional 210,064 shares during the period. Benefit Street Partners LLC increased its stake in Avaya by 9.1% during the 4th quarter. Benefit Street Partners LLC now owns 3,283,372 shares of the company’s stock worth $47,806,000 after buying an additional 273,218 shares during the period. Finally, Lancaster Investment Management LLP increased its stake in Avaya by 14.8% during the 1st quarter. Lancaster Investment Management LLP now owns 2,476,065 shares of the company’s stock worth $41,672,000 after buying an additional 320,139 shares during the period. 98.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AVYA stock opened at $13.36 on Friday. Avaya has a 52 week low of $12.89 and a 52 week high of $23.40. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.54 billion, a PE ratio of 4.93 and a beta of 1.52.

About Avaya

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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