Adobe Systems Incorporated (ADBE) Expected to Post Earnings of $0.94 Per Share
Equities research analysts expect Adobe Systems Incorporated (NASDAQ:ADBE) to announce $0.94 earnings per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Adobe Systems’ earnings. Adobe Systems reported earnings of $0.75 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 25.3%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, September 19th.
According to Zacks, analysts expect that Adobe Systems will report full-year earnings of $4.03 per share for the current fiscal year, with EPS estimates ranging from $3.80 to $4.15. For the next financial year, analysts anticipate that the business will report earnings of $5.04 per share, with EPS estimates ranging from $4.80 to $5.45. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data 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. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 26.7% compared to the same quarter last year.
A number of brokerages have recently commented on ADBE. Bank of America Corporation boosted their target price on shares of Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, August 25th. Jefferies Group LLC began coverage on shares of Adobe Systems in a report on Thursday, August 24th. They set a “buy” rating and a $175.00 target price on the stock. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Royal Bank Of Canada restated a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a report on Monday, July 31st. Finally, Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price on the stock in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Adobe Systems presently has a consensus rating of “Buy” and an average target price of $152.71.
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Adobe Systems (NASDAQ:ADBE) traded up 0.97% on Friday, hitting $155.16. 1,895,007 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $147.88 and a 200-day moving average price of $135.68. Adobe Systems has a 52-week low of $97.87 and a 52-week high of $155.36. The stock has a market cap of $76.56 billion, a P/E ratio of 54.04 and a beta of 1.00.
In other news, Director John E. Warnock sold 32,600 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total transaction of $311,034.57. Following the sale, the executive vice president now directly owns 61,944 shares of the company’s stock, valued at approximately $8,628,179.76. The disclosure for this sale can be found here. Insiders have sold a total of 102,239 shares of company stock valued at $14,877,475 in the last ninety days. Insiders own 0.38% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. 1ST Source Bank raised its stake in Adobe Systems by 0.3% in the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock valued at $261,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after buying an additional 13 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after buying an additional 13 shares in the last quarter. Trust Co. of Vermont raised its stake in Adobe Systems by 0.6% in the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock valued at $372,000 after buying an additional 16 shares in the last quarter. Finally, Bank of Stockton raised its stake in Adobe Systems by 0.4% in the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after buying an additional 20 shares in the last quarter. 87.53% of the stock is owned by institutional investors.
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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