Analysts predict that Avid Technology, Inc. (NASDAQ:AVID) will announce $0.16 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Avid Technology’s earnings. The highest EPS estimate is $0.18 and the lowest is $0.14. Avid Technology reported earnings per share of $0.11 during the same quarter last year, which indicates a positive year-over-year growth rate of 45.5%. The company is scheduled to report its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Avid Technology will report full-year earnings of $0.62 per share for the current financial year, with EPS estimates ranging from $0.61 to $0.62. For the next fiscal year, analysts forecast that the firm will report earnings of $0.83 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Avid Technology.

Avid Technology (NASDAQ:AVID) last released its earnings results on Monday, August 5th. The technology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $98.70 million for the quarter, compared to the consensus estimate of $101.29 million. Avid Technology had a negative net margin of 0.99% and a negative return on equity of 11.13%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) earnings per share.

A number of analysts have recently weighed in on AVID shares. ValuEngine downgraded Avid Technology from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Jefferies Financial Group upped their target price on Avid Technology from $6.50 to $8.50 and gave the company a “hold” rating in a research report on Friday, June 7th. Maxim Group reiterated a “buy” rating and set a $14.00 target price on shares of Avid Technology in a research report on Friday, June 7th. Finally, BidaskClub downgraded Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Avid Technology presently has an average rating of “Hold” and an average target price of $8.25.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its position in shares of Avid Technology by 86.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the technology company’s stock worth $43,000 after buying an additional 2,659 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Avid Technology during the 2nd quarter worth $3,076,000. Chicago Equity Partners LLC bought a new stake in shares of Avid Technology during the 2nd quarter worth $151,000. Acadian Asset Management LLC lifted its position in shares of Avid Technology by 528.1% during the 2nd quarter. Acadian Asset Management LLC now owns 643,475 shares of the technology company’s stock worth $5,868,000 after buying an additional 541,028 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Avid Technology by 160.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,925 shares of the technology company’s stock worth $1,367,000 after buying an additional 92,350 shares during the last quarter. Institutional investors and hedge funds own 53.03% of the company’s stock.

Shares of NASDAQ:AVID traded down $0.06 during trading on Tuesday, reaching $6.21. 223,213 shares of the company traded hands, compared to its average volume of 433,894. The company’s 50 day moving average is $6.92 and its two-hundred day moving average is $7.82. The firm has a market capitalization of $269.33 million, a PE ratio of 51.75, a PEG ratio of 1.48 and a beta of 1.85. Avid Technology has a 52 week low of $4.37 and a 52 week high of $10.79.

About Avid Technology

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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