Adobe Systems Incorporated (NASDAQ:ADBE) Expected to Post Earnings of $0.82 Per Share
Equities analysts expect Adobe Systems Incorporated (NASDAQ:ADBE) to announce earnings of $0.82 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Adobe Systems’ earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.81. Adobe Systems posted earnings of $0.60 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 36.7%. The business is scheduled to report its next quarterly earnings report on Tuesday, September 19th.
On average, analysts expect that Adobe Systems will report full year earnings of $3.30 per share for the current financial year, with EPS estimates ranging from $3.13 to $3.41. For the next fiscal year, analysts expect that the firm will post earnings of $4.14 per share, with EPS estimates ranging from $4.00 to $4.26. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS.
Several research analysts have recently commented on the company. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $136.50 target price for the company in a research report on Tuesday, March 21st. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a report on Wednesday, March 22nd. Guggenheim reaffirmed a “buy” rating and issued a $155.00 price target on shares of Adobe Systems in a research report on Tuesday, April 18th. Stifel Nicolaus reiterated a “buy” rating on shares of Adobe Systems in a research note on Tuesday, April 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $155.00 price objective on shares of Adobe Systems in a research note on Wednesday, March 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $153.20.
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In other news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total transaction of $281,232.00. Following the sale, the executive vice president now owns 59,991 shares in the company, valued at approximately $8,638,704. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John E. Warnock sold 32,600 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the sale, the director now owns 16,088 shares in the company, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. Insiders have sold 80,019 shares of company stock worth $11,527,134 in the last quarter. Company insiders own 0.38% of the company’s stock.
A number of institutional investors have recently modified their holdings of ADBE. GSA Capital Partners LLP acquired a new position in shares of Adobe Systems during the fourth quarter worth approximately $215,000. Dodge & Cox bought a new stake in shares of Adobe Systems during the fourth quarter worth $19,016,000. UBS Asset Management Americas Inc. raised its stake in shares of Adobe Systems by 30.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,753,727 shares of the software company’s stock worth $180,547,000 after buying an additional 409,635 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Adobe Systems by 1.0% in the fourth quarter. Perigon Wealth Management LLC now owns 2,959 shares of the software company’s stock worth $355,000 after buying an additional 29 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its stake in shares of Adobe Systems by 947.2% in the fourth quarter. Hudson Bay Capital Management LP now owns 54,205 shares of the software company’s stock worth $5,580,000 after buying an additional 49,029 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.
Adobe Systems (ADBE) opened at 147.89 on Wednesday. The stock has a market capitalization of $72.97 billion, a price-to-earnings ratio of 51.51 and a beta of 1.00. The firm’s 50-day moving average is $142.25 and its 200-day moving average is $128.55. Adobe Systems has a 52-week low of $95.42 and a 52-week high of $147.96.
Adobe Systems Company Profile
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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