Avaya (NYSE:AVYA) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Avaya (NYSE:AVYA) posted its quarterly earnings results on Monday. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.05, MarketWatch Earnings reports. The company had revenue of $760.00 million during the quarter, compared to analyst estimates of $738.70 million. Avaya had a net margin of 0.61% and a return on equity of 101.31%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share.

Shares of AVYA opened at $20.89 on Wednesday. The firm’s 50 day simple moving average is $19.65 and its 200 day simple moving average is $22.92. The company has a market capitalization of $1.76 billion, a P/E ratio of 348.17 and a beta of 1.49. The company has a debt-to-equity ratio of 8.43, a current ratio of 1.43 and a quick ratio of 1.38. Avaya has a 1-year low of $17.11 and a 1-year high of $34.06.

A number of equities analysts have weighed in on the stock. Citigroup increased their target price on shares of Avaya from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday. Colliers Securities reiterated a “buy” rating and set a $35.00 target price on shares of Avaya in a research report on Wednesday, September 1st. Barclays lowered shares of Avaya from an “overweight” rating to an “equal weight” rating and set a $20.00 target price for the company. in a research report on Wednesday, October 20th. JPMorgan Chase & Co. lowered shares of Avaya from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $32.00 to $23.00 in a research report on Monday, October 18th. Finally, Cowen cut their target price on shares of Avaya from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, November 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Avaya currently has an average rating of “Hold” and an average price target of $27.91.

A hedge fund recently raised its stake in Avaya stock. LPL Financial LLC lifted its position in Avaya Holdings Corp. (NYSE:AVYA) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,640 shares of the company’s stock after purchasing an additional 671 shares during the period. LPL Financial LLC’s holdings in Avaya were worth $290,000 as of its most recent SEC filing.

About Avaya

Avaya Holdings Corp. is a global business communications company, which engages in the provision of business collaboration and communication solutions. It operates through the following segments: Products & Solutions and Services. The Products and Solutions segment includes unified communications and contact center platforms, applications and devices.

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Earnings History for Avaya (NYSE:AVYA)

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