Avaya (NYSE:AVYA) Releases Q3 2021 Earnings Guidance

Avaya (NYSE:AVYA) issued an update on its third quarter 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.660-0.730 for the period, compared to the Thomson Reuters consensus estimate of $0.800. The company issued revenue guidance of $720 million-$735 million, compared to the consensus revenue estimate of $730.19 million.Avaya also updated its FY 2021 guidance to 3.020-3.200 EPS.

Avaya stock traded up $0.47 during midday trading on Friday, reaching $26.40. 859,941 shares of the company’s stock were exchanged, compared to its average volume of 1,238,981. Avaya has a 52 week low of $11.45 and a 52 week high of $34.06. The company has a debt-to-equity ratio of 12.23, a quick ratio of 1.34 and a current ratio of 1.39. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -3.61 and a beta of 1.72. The stock’s 50-day simple moving average is $28.73 and its 200 day simple moving average is $24.45.

Avaya (NYSE:AVYA) last posted its quarterly earnings results on Wednesday, May 5th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Avaya had a positive return on equity of 22.43% and a negative net margin of 23.67%. The business had revenue of $738.00 million for the quarter, compared to the consensus estimate of $717.52 million. During the same quarter in the previous year, the business posted ($7.24) EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts forecast that Avaya will post 4.06 earnings per share for the current year.

Several brokerages have commented on AVYA. TheStreet downgraded shares of Avaya from a c rating to a d+ rating in a research report on Tuesday, February 9th. Morgan Stanley boosted their price objective on shares of Avaya from $22.00 to $26.00 and gave the company an equal weight rating in a research report on Wednesday, February 10th. Zacks Investment Research downgraded shares of Avaya from a hold rating to a strong sell rating in a research report on Friday, May 7th. The Goldman Sachs Group raised shares of Avaya to a buy rating and boosted their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, February 2nd. Finally, Northland Securities cut shares of Avaya from an outperform rating to a market perform rating and boosted their target price for the stock from $20.00 to $30.00 in a research note on Wednesday, February 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $28.27.

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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