$0.15 Earnings Per Share Expected for Avid Technology, Inc. (AVID) This Quarter

Analysts predict that Avid Technology, Inc. (NASDAQ:AVID) will post earnings per share (EPS) of $0.15 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Avid Technology’s earnings, with estimates ranging from $0.11 to $0.19. Avid Technology also reported earnings of $0.15 per share during the same quarter last year. The business is expected to report its next quarterly earnings report on Thursday, March 21st.

On average, analysts expect that Avid Technology will report full year earnings of $0.16 per share for the current fiscal year, with EPS estimates ranging from $0.12 to $0.19. For the next fiscal year, analysts anticipate that the business will report earnings of $0.70 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Avid Technology.

Avid Technology (NASDAQ:AVID) last posted its earnings results on Wednesday, November 7th. The technology company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. Avid Technology had a negative return on equity of 1.55% and a negative net margin of 4.28%. The company had revenue of $104.05 million for the quarter, compared to the consensus estimate of $104.96 million.

A number of equities research analysts have commented on AVID shares. Zacks Investment Research downgraded Avid Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Jefferies Financial Group started coverage on Avid Technology in a research report on Tuesday, November 13th. They issued a “hold” rating and a $6.00 target price on the stock. ValuEngine downgraded Avid Technology from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. BidaskClub upgraded Avid Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 18th. Finally, BWS Financial downgraded Avid Technology from a “hold” rating to a “sell” rating and set a $5.00 target price on the stock. in a research report on Friday, November 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Avid Technology presently has a consensus rating of “Hold” and an average target price of $5.44.

NASDAQ:AVID opened at $6.09 on Friday. Avid Technology has a 52 week low of $4.26 and a 52 week high of $7.65. The firm has a market capitalization of $254.88 million, a price-to-earnings ratio of 15.23 and a beta of 1.78.

In related news, SVP Peter Ennis sold 8,600 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $5.92, for a total value of $50,912.00. Following the sale, the senior vice president now owns 41,857 shares in the company, valued at approximately $247,793.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.90% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Cove Street Capital LLC raised its holdings in shares of Avid Technology by 1.4% in the 2nd quarter. Cove Street Capital LLC now owns 6,320,591 shares of the technology company’s stock valued at $32,867,000 after buying an additional 85,200 shares during the period. BlackRock Inc. raised its holdings in shares of Avid Technology by 1.1% in the 1st quarter. BlackRock Inc. now owns 2,057,592 shares of the technology company’s stock valued at $9,341,000 after buying an additional 22,050 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Avid Technology by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,887,306 shares of the technology company’s stock valued at $11,191,000 after buying an additional 20,989 shares during the period. Royce & Associates LP raised its holdings in shares of Avid Technology by 31.9% in the 3rd quarter. Royce & Associates LP now owns 1,507,181 shares of the technology company’s stock valued at $8,938,000 after buying an additional 364,438 shares during the period. Finally, Engine Capital Management LP raised its holdings in shares of Avid Technology by 104.6% in the 2nd quarter. Engine Capital Management LP now owns 365,763 shares of the technology company’s stock valued at $1,902,000 after buying an additional 186,960 shares during the period. Hedge funds and other institutional investors own 70.79% of the company’s stock.

Avid Technology Company Profile

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 product line that is used to edit film, television programming, news broadcasts, commercials, and other video content; Avid shared storage systems and Avid Interplay asset management solutions, which provide complete network, storage, and database solutions to enable users to simultaneously share and manage media assets throughout a project or organization.

Further Reading: Fiduciary

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

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