Avid Forecasted to Post Q1 2018 Earnings of $0.11 Per Share (AVID)

Avid (NASDAQ:AVID) – Research analysts at Dougherty & Co issued their Q1 2018 EPS estimates for Avid in a report released on Monday. Dougherty & Co analyst S. Frankel expects that the technology company will post earnings per share of $0.11 for the quarter. Dougherty & Co has a “Sell” rating and a $4.50 price target on the stock. Dougherty & Co also issued estimates for Avid’s FY2018 earnings at $0.09 EPS.

Several other research firms have also recently commented on AVID. ValuEngine cut Avid from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research cut Avid from a “buy” rating to a “hold” rating in a research note on Friday, January 12th.

AVID stock opened at $4.52 on Wednesday. The company has a market capitalization of $195.37, a P/E ratio of -13.70 and a beta of 1.84. The company has a debt-to-equity ratio of -0.76, a quick ratio of 0.46 and a current ratio of 0.71. Avid has a one year low of $3.99 and a one year high of $7.65.

Avid (NASDAQ:AVID) last released its earnings results on Thursday, March 15th. The technology company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.25). The business had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $108.53 million. Avid had a negative net margin of 3.24% and a negative return on equity of 3.59%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share.

Several hedge funds have recently bought and sold shares of AVID. Millennium Management LLC raised its position in shares of Avid by 1,366.2% during the 4th quarter. Millennium Management LLC now owns 1,353,543 shares of the technology company’s stock valued at $7,296,000 after acquiring an additional 1,261,229 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Avid by 539.7% during the 4th quarter. Two Sigma Investments LP now owns 294,268 shares of the technology company’s stock valued at $1,586,000 after acquiring an additional 248,268 shares in the last quarter. Royce & Associates LP raised its position in shares of Avid by 71.6% during the 3rd quarter. Royce & Associates LP now owns 574,998 shares of the technology company’s stock valued at $2,610,000 after acquiring an additional 240,000 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Avid during the 4th quarter valued at approximately $1,021,000. Finally, Algert Global LLC acquired a new stake in shares of Avid during the 4th quarter valued at approximately $765,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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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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