Autodesk, Inc. (NASDAQ:ADSK) Expected to Announce Earnings of -$0.37 Per Share
Brokerages predict that Autodesk, Inc. (NASDAQ:ADSK) will announce earnings of ($0.37) per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Autodesk’s earnings. The lowest EPS estimate is ($0.49) and the highest is ($0.29). Autodesk posted earnings per share of ($0.10) in the same quarter last year, which would indicate a negative year-over-year growth rate of 270%. The company is scheduled to report its next quarterly earnings results on Thursday, August 24th.
On average, analysts expect that Autodesk will report full-year earnings of ($1.55) per share for the current year, with EPS estimates ranging from ($1.84) to ($1.40). For the next fiscal year, analysts forecast that the business will report earnings of ($0.13) per share, with EPS estimates ranging from ($1.46) to $0.42. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Autodesk.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.08. The firm had revenue of $485.70 million for the quarter, compared to the consensus estimate of $470.27 million. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) EPS.
ADSK has been the subject of a number of research analyst reports. Morgan Stanley raised Autodesk from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $69.00 to $115.00 in a research note on Monday, May 1st. Wedbush raised Autodesk from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $78.00 to $120.00 in a research note on Tuesday, May 9th. William Blair reaffirmed an “outperform” rating on shares of Autodesk in a research note on Sunday, May 21st. Credit Suisse Group initiated coverage on Autodesk in a research note on Thursday, April 27th. They issued an “outperform” rating and a $115.00 price target for the company. Finally, Bank of America Corporation raised Autodesk from an “underperform” rating to a “neutral” rating and set a $125.00 price target for the company in a research note on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Autodesk has an average rating of “Buy” and a consensus price target of $104.50.
Shares of Autodesk (ADSK) traded up 2.37% on Wednesday, hitting $110.25. 2,044,357 shares of the stock were exchanged. The company’s market cap is $24.30 billion. Autodesk has a 52-week low of $56.80 and a 52-week high of $114.68. The company has a 50 day moving average of $106.56 and a 200 day moving average of $92.59.
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In related news, SVP Jan Becker sold 2,865 shares of Autodesk stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $95.73, for a total value of $274,266.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl Bass sold 42,297 shares of Autodesk stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $101.72, for a total value of $4,302,450.84. The disclosure for this sale can be found here. Insiders sold a total of 170,570 shares of company stock valued at $17,865,037 over the last quarter. 6.10% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. NBT Bank N A NY acquired a new stake in Autodesk during the first quarter valued at approximately $210,000. Venturi Wealth Management LLC acquired a new stake in Autodesk during the first quarter valued at approximately $211,000. Joel Isaacson & Co. LLC acquired a new stake in Autodesk during the first quarter valued at approximately $216,000. Jacobs & Co. CA acquired a new stake in Autodesk during the second quarter valued at approximately $220,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in Autodesk during the first quarter valued at approximately $225,000. Institutional investors own 97.39% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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