Avaya (NYSE:AVYA) Issues Quarterly Earnings Results, Misses Expectations By $0.37 EPS

Avaya (NYSE:AVYA) announced its earnings results on Tuesday. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.37), Morningstar.com reports. The firm had revenue of $720.00 million for the quarter, compared to the consensus estimate of $715.96 million. Avaya had a return on equity of 15.77% and a net margin of 6.12%. Avaya’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.80) EPS. Avaya updated its Q4 2019 guidance to EPS and its FY 2019 guidance to EPS.

NYSE AVYA traded up $0.53 on Wednesday, hitting $12.33. 48,491 shares of the stock were exchanged, compared to its average volume of 1,400,019. Avaya has a 52-week low of $10.23 and a 52-week high of $23.40. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.37 and a quick ratio of 1.31. The company has a market cap of $1.23 billion, a P/E ratio of 3.90 and a beta of 1.70. The business’s 50-day moving average price is $11.23.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its holdings in shares of Avaya by 57.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,363 shares of the company’s stock valued at $49,000 after acquiring an additional 1,232 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Avaya during the 2nd quarter valued at $138,000. Millennium Management LLC purchased a new position in shares of Avaya during the 4th quarter valued at $152,000. Dfpg Investments Inc. acquired a new stake in shares of Avaya in the 2nd quarter valued at $187,000. Finally, ARP Americas LP acquired a new stake in shares of Avaya in the 1st quarter valued at $192,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.

AVYA has been the topic of several recent research reports. Northland Securities restated a “buy” rating and issued a $21.00 price target on shares of Avaya in a research report on Wednesday. Zacks Investment Research upgraded shares of Avaya from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 10th. Morgan Stanley restated an “equal weight” rating and issued a $14.00 price target (down previously from $18.50) on shares of Avaya in a research report on Wednesday. Citigroup set a $12.00 price target on shares of Avaya and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, BWS Financial decreased their price target on shares of Avaya from $32.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $18.88.

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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Earnings History for Avaya (NYSE:AVYA)

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