Wall Street brokerages forecast that Avid Technology, Inc. (NASDAQ:AVID) will announce earnings of $0.07 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Avid Technology’s earnings. The lowest EPS estimate is $0.06 and the highest is $0.07. Avid Technology posted earnings per share of ($0.07) during the same quarter last year, which would suggest a positive year-over-year growth rate of 200%. The firm is scheduled to report its next quarterly earnings report on Thursday, May 9th.

According to Zacks, analysts expect that Avid Technology will report full-year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.62 to $0.72. For the next year, analysts forecast that the company will report earnings of $0.93 per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Avid Technology.

Avid Technology (NASDAQ:AVID) last issued its quarterly earnings data on Thursday, March 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The company had revenue of $112.70 million for the quarter, compared to analyst estimates of $110.43 million. Avid Technology had a negative net margin of 2.58% and a negative return on equity of 4.14%. Avid Technology’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share.

Several equities analysts recently issued reports on AVID shares. Dougherty & Co raised shares of Avid Technology from a “sell” rating to a “neutral” rating in a report on Wednesday, January 30th. BWS Financial raised shares of Avid Technology from a “sell” rating to a “hold” rating and set a $5.00 price objective on the stock in a report on Wednesday, December 26th. ValuEngine lowered shares of Avid Technology from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. BidaskClub lowered shares of Avid Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 18th. Finally, Zacks Investment Research lowered shares of Avid Technology from a “buy” rating to a “hold” rating in a report on Thursday, January 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Avid Technology currently has a consensus rating of “Hold” and an average target price of $5.50.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVID. JPMorgan Chase & Co. grew its holdings in Avid Technology by 163.6% in the third quarter. JPMorgan Chase & Co. now owns 145,870 shares of the technology company’s stock worth $865,000 after purchasing an additional 90,530 shares during the last quarter. RMB Capital Management LLC purchased a new position in Avid Technology in the fourth quarter worth $311,000. Squarepoint Ops LLC purchased a new position in Avid Technology in the fourth quarter worth $224,000. Two Sigma Investments LP grew its holdings in Avid Technology by 300.2% in the fourth quarter. Two Sigma Investments LP now owns 46,611 shares of the technology company’s stock worth $221,000 after purchasing an additional 34,964 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in Avid Technology by 34.3% in the fourth quarter. Gabelli Funds LLC now owns 127,600 shares of the technology company’s stock worth $606,000 after purchasing an additional 32,600 shares during the last quarter. 57.53% of the stock is currently owned by institutional investors and hedge funds.

AVID stock traded down $0.11 during trading on Wednesday, hitting $8.37. 20,724 shares of the company’s stock traded hands, compared to its average volume of 867,589. The firm has a market cap of $356.16 million, a price-to-earnings ratio of 69.09, a PEG ratio of 1.67 and a beta of 1.88. Avid Technology has a 1 year low of $4.33 and a 1 year high of $9.08.

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, which is used to edit video content, such as television programming, commercials, and films; Avid NEXIS shared storage systems; and Maestro product line solutions for the integration of virtual sets, augmented reality, and video wall control into existing workflows.

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

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