Adobe Systems Incorporated (ADBE) to Release Quarterly Earnings on Tuesday
Adobe Systems Incorporated (NASDAQ:ADBE) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, September 19th. Analysts expect the company to announce earnings of $1.01 per share for the quarter. Adobe Systems has set its Q3 guidance at $1.00 EPS.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. On average, analysts expect Adobe Systems to post $4.06 EPS for the current fiscal year and $5.10 EPS for the next fiscal year.
Adobe Systems Incorporated (ADBE) opened at 154.49 on Friday. The stock has a market cap of $76.23 billion, a P/E ratio of 53.81 and a beta of 1.00. The stock has a 50 day moving average of $151.06 and a 200-day moving average of $139.34. Adobe Systems Incorporated has a one year low of $98.00 and a one year high of $157.89.
Several research firms recently weighed in on ADBE. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Adobe Systems in a report on Tuesday, September 12th. Barclays PLC reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Adobe Systems in a report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Adobe Systems in a report on Tuesday, September 12th. Zacks Investment Research downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating in a report on Thursday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Adobe Systems in a report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $154.08.
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In related news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total value of $304,433.64. Following the transaction, the executive vice president now owns 56,356 shares in the company, valued at $8,784,773.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Donna Morris sold 5,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $145.00, for a total value of $725,000.00. The disclosure for this sale can be found here. Insiders sold 101,959 shares of company stock worth $14,870,874 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.
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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