$0.19 Earnings Per Share Expected for Avid Technology, Inc. (NASDAQ:AVID) This Quarter

Analysts expect Avid Technology, Inc. (NASDAQ:AVID) to post earnings of $0.19 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Avid Technology’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.15. Avid Technology posted earnings of $0.11 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 72.7%. The business is expected to report its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Avid Technology will report full year earnings of $0.58 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.66. For the next financial year, analysts forecast that the company will report earnings of $0.88 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Avid Technology.

Avid Technology (NASDAQ:AVID) last posted its earnings results on Monday, August 5th. The technology company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). The company had revenue of $98.70 million for the quarter, compared to the consensus estimate of $101.29 million. Avid Technology had a negative net margin of 0.46% and a negative return on equity of 7.54%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company posted ($0.20) earnings per share.

AVID has been the subject of several analyst reports. ValuEngine downgraded Avid Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on Avid Technology from $6.50 to $8.50 and gave the stock a “hold” rating in a research report on Friday, June 7th. BidaskClub downgraded Avid Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded Avid Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, Maxim Group reiterated a “buy” rating and set a $14.00 price objective on shares of Avid Technology in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Avid Technology presently has a consensus rating of “Hold” and an average target price of $8.25.

Shares of NASDAQ AVID traded up $0.17 during midday trading on Friday, hitting $6.31. 621,924 shares of the company’s stock were exchanged, compared to its average volume of 382,325. The business’s 50 day moving average is $9.54. The stock has a market cap of $423.79 million, a price-to-earnings ratio of 52.54, a P/E/G ratio of 2.59 and a beta of 1.79. Avid Technology has a twelve month low of $4.37 and a twelve month high of $10.79.

In other Avid Technology news, insider Ryan H. Murray sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $8.00, for a total value of $96,000.00. Following the completion of the sale, the insider now directly owns 35,995 shares in the company, valued at $287,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVID. Wells Fargo & Company MN boosted its position in shares of Avid Technology by 104.0% during the second quarter. Wells Fargo & Company MN now owns 145,119 shares of the technology company’s stock worth $1,324,000 after purchasing an additional 73,982 shares in the last quarter. Stone Ridge Asset Management LLC boosted its position in shares of Avid Technology by 7.5% during the second quarter. Stone Ridge Asset Management LLC now owns 30,030 shares of the technology company’s stock worth $274,000 after purchasing an additional 2,100 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Avid Technology by 505.5% during the second quarter. Meeder Asset Management Inc. now owns 5,468 shares of the technology company’s stock worth $51,000 after purchasing an additional 4,565 shares in the last quarter. Chicago Equity Partners LLC bought a new position in shares of Avid Technology during the second quarter worth $151,000. Finally, SG Americas Securities LLC bought a new position in shares of Avid Technology during the second quarter worth $114,000. Hedge funds and other institutional investors own 57.85% of the company’s stock.

About Avid Technology

Avid Technology, Inc develops, markets, sells, and supports software, hardware, and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer, which is used to edit video content, such as television programming, commercials, and films; Avid NEXIS shared storage systems; and Maestro product line solutions for the integration of virtual sets, augmented reality, and video wall control into existing workflows.

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Earnings History and Estimates for Avid Technology (NASDAQ:AVID)

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