Avaya (NYSE:AVYA) Updates FY 2022 Earnings Guidance

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

AVYA stock opened at $5.16 on Tuesday. The stock’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $14.13. Avaya has a 12-month low of $2.93 and a 12-month high of $29.11. The firm has a market cap of $442.93 million, a P/E ratio of -16.13 and a beta of 1.63. The company has a current ratio of 1.66, a quick ratio of 1.61 and a debt-to-equity ratio of 6.54.

Avaya (NYSE:AVYAGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.08). The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $737.62 million. Avaya had a negative net margin of 0.62% and a positive return on equity of 51.82%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. On average, research analysts forecast that Avaya will post 1.67 EPS for the current fiscal year.

AVYA has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Avaya from $9.00 to $6.00 and set a neutral rating on the stock in a research report on Monday. Cowen cut shares of Avaya from an outperform rating to a market perform rating and dropped their target price for the stock from $26.00 to $6.00 in a research report on Friday, May 13th. Cowen lowered Avaya from an outperform rating to a market perform rating and lowered their target price for the company from $26.00 to $6.00 in a research note on Friday, May 13th. Zacks Investment Research lowered shares of Avaya from a buy rating to a strong sell rating in a report on Friday, May 13th. Finally, TheStreet downgraded Avaya from a c rating to a d+ rating in a research report on Wednesday, February 9th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Avaya has a consensus rating of Hold and a consensus price target of $13.70.

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Avaya by 1,801.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,507 shares of the company’s stock valued at $121,000 after purchasing an additional 9,007 shares in the last quarter. US Bancorp DE boosted its position in shares of Avaya by 3,191.3% during the 1st quarter. US Bancorp DE now owns 10,532 shares of the company’s stock worth $133,000 after acquiring an additional 10,212 shares in the last quarter. LPL Financial LLC increased its stake in Avaya by 4.8% in the third quarter. LPL Financial LLC now owns 14,640 shares of the company’s stock valued at $290,000 after acquiring an additional 671 shares during the last quarter. Vident Investment Advisory LLC raised its position in Avaya by 10.9% during the fourth quarter. Vident Investment Advisory LLC now owns 15,843 shares of the company’s stock valued at $314,000 after purchasing an additional 1,552 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in Avaya by 82.6% during the first quarter. HighTower Advisors LLC now owns 24,351 shares of the company’s stock worth $309,000 after purchasing an additional 11,016 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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