Analysts Anticipate Avid (AVID) to Announce $0.11 EPS

Avid (NASDAQ:AVID) has been assigned a consensus broker rating score of 4.00 (Sell) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and one has given a hold rating to the company.

Brokerages have set a twelve-month consensus price objective of $4.75 for the company and are expecting that the company will post $0.11 EPS for the current quarter, according to Zacks. Zacks has also given Avid an industry rank of 54 out of 265 based on the ratings given to its competitors.

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Several research analysts recently issued reports on the stock. ValuEngine downgraded shares of Avid from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Dougherty & Co downgraded shares of Avid from a “neutral” rating to a “sell” rating and set a $4.50 price target on the stock. in a research report on Thursday, December 7th. Finally, Zacks Investment Research downgraded shares of Avid from a “buy” rating to a “hold” rating in a research report on Friday, January 12th.

Avid stock opened at $4.28 on Friday. The stock has a market cap of $177.53, a PE ratio of -12.97 and a beta of 1.84. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of -0.76. Avid has a 52-week low of $3.99 and a 52-week high of $7.65.

Avid (NASDAQ:AVID) last issued its quarterly earnings results on Thursday, March 15th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.25). The company had revenue of $107.30 million for the quarter, compared to analyst estimates of $108.53 million. Avid had a negative return on equity of 3.59% and a negative net margin of 3.24%. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. analysts forecast that Avid will post 0.09 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in Avid during the 4th quarter worth about $100,000. Dynamic Technology Lab Private Ltd bought a new stake in Avid during the 3rd quarter worth about $109,000. Voya Investment Management LLC raised its holdings in Avid by 25.6% during the 2nd quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock worth $109,000 after purchasing an additional 4,220 shares during the last quarter. Macquarie Group Ltd. bought a new stake in Avid during the 4th quarter worth about $115,000. Finally, Gamco Investors INC. ET AL bought a new stake in Avid during the 4th quarter worth about $116,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

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Avid 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.

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