Avaya Holdings Corp (NYSE:AVYA) Expected to Post Quarterly Sales of $714.50 Million

Wall Street brokerages expect Avaya Holdings Corp (NYSE:AVYA) to post sales of $714.50 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Avaya’s earnings, with the lowest sales estimate coming in at $711.00 million and the highest estimate coming in at $718.00 million. Avaya reported sales of $692.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The company is expected to announce its next quarterly earnings report on Thursday, August 8th.

On average, analysts expect that Avaya will report full-year sales of $2.94 billion for the current financial year, with estimates ranging from $2.93 billion to $2.95 billion. For the next financial year, analysts anticipate that the company will post sales of $2.93 billion, with estimates ranging from $2.90 billion to $2.98 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Avaya.

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

Several analysts recently weighed in on AVYA shares. Zacks Investment Research upgraded Avaya from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 10th. Northland Securities restated a “buy” rating and set a $21.00 price target on shares of Avaya in a report on Friday, May 10th. BWS Financial decreased their price target on Avaya from $32.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Finally, Citigroup set a $12.00 price target on Avaya and gave the company a “hold” rating in a report on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Avaya has a consensus rating of “Hold” and an average price target of $19.44.

A number of hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its stake in Avaya by 57.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,363 shares of the company’s stock worth $49,000 after purchasing an additional 1,232 shares during the period. Legal & General Group Plc increased its stake in Avaya by 7.2% in the fourth quarter. Legal & General Group Plc now owns 43,331 shares of the company’s stock worth $631,000 after purchasing an additional 2,912 shares during the period. Great West Life Assurance Co. Can increased its stake in Avaya by 42.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 12,465 shares of the company’s stock worth $175,000 after purchasing an additional 3,685 shares during the period. AEGON USA Investment Management LLC increased its stake in Avaya by 2.4% in the second quarter. AEGON USA Investment Management LLC now owns 172,284 shares of the company’s stock worth $2,052,000 after purchasing an additional 4,100 shares during the period. Finally, Swiss National Bank increased its stake in Avaya by 2.7% in the second quarter. Swiss National Bank now owns 205,900 shares of the company’s stock worth $2,452,000 after purchasing an additional 5,500 shares during the period.

NYSE:AVYA traded down $0.27 during midday trading on Friday, hitting $11.36. 1,062,488 shares of the company traded hands, compared to its average volume of 936,017. The firm has a fifty day moving average price of $11.51. Avaya has a 12-month low of $10.46 and a 12-month high of $23.40. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 4.07 and a beta of 1.70. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.37 and a quick ratio of 1.31.

Avaya Company Profile

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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