Adobe Systems Incorporated (ADBE) Expected to Earn FY2017 Earnings of $3.48 Per Share
Adobe Systems Incorporated (NASDAQ:ADBE) – Analysts at Jefferies Group increased their FY2017 earnings estimates for Adobe Systems in a research note issued on Tuesday. Jefferies Group analyst B. Thill now anticipates that the software company will post earnings per share of $3.48 for the year, up from their prior forecast of $3.34. Jefferies Group has a “Buy” rating and a $180.00 price objective on the stock. Jefferies Group also issued estimates for Adobe Systems’ Q4 2017 earnings at $0.96 EPS.
A number of other equities research analysts have also recently commented on the company. Robert W. Baird reiterated an “outperform” rating and issued a $160.00 price target (up from $140.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $161.00 price target for the company in a research note on Friday, June 23rd. Vetr lowered Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective on the stock. in a report on Thursday, August 31st. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Adobe Systems in a report on Monday, June 26th. Finally, Wunderlich reissued a “buy” rating and issued a $165.00 price objective (up from $145.00) on shares of Adobe Systems in a report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $158.25.
Shares of Adobe Systems (NASDAQ ADBE) opened at 148.50 on Friday. The company has a market capitalization of $73.27 billion, a P/E ratio of 46.68 and a beta of 1.00. Adobe Systems has a 12-month low of $98.00 and a 12-month high of $157.89. The company has a 50-day moving average price of $151.61 and a 200 day moving average price of $140.16.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the company earned $0.75 EPS. Adobe Systems’s revenue for the quarter was up 25.8% on a year-over-year basis.
In other news, EVP Ann Lewnes sold 1,953 shares of the firm’s 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donna Morris sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,359 shares of company stock worth $9,449,192. Company insiders own 0.38% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ADBE. Waldron LP lifted its position in Adobe Systems by 96.9% during the first quarter. Waldron LP now owns 5,487 shares of the software company’s stock worth $689,000 after buying an additional 2,701 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Adobe Systems by 23.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 172,031 shares of the software company’s stock worth $22,497,000 after buying an additional 32,410 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Adobe Systems by 31.1% during the first quarter. Daiwa Securities Group Inc. now owns 16,850 shares of the software company’s stock worth $2,193,000 after buying an additional 4,000 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Adobe Systems by 3.9% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,095 shares of the software company’s stock worth $403,000 after buying an additional 115 shares in the last quarter. Finally, HPM Partners LLC purchased a new position in Adobe Systems during the first quarter worth approximately $2,119,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.
About Adobe Systems
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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