Adobe Systems Incorporated (NASDAQ:ADBE) Expected to Post Earnings of $0.82 Per Share
Wall Street analysts forecast that Adobe Systems Incorporated (NASDAQ:ADBE) will announce earnings per share of $0.82 for the current quarter, according to Zacks. Eight analysts have provided estimates for Adobe Systems’ earnings. The highest EPS estimate is $0.84 and the lowest is $0.81. Adobe Systems posted earnings per share of $0.60 in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.7%. The firm is expected to announce its next earnings results 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 year, analysts anticipate that the business will report earnings of $4.14 per share, with EPS estimates ranging from $4.00 to $4.26. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $0.71 EPS. The business’s revenue was up 26.7% on a year-over-year basis.
A number of research firms have commented on ADBE. Royal Bank Of Canada reiterated a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a research report on Monday, July 31st. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price on the stock in a research report on Tuesday, July 18th. BidaskClub downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Adobe Systems in a research report on Monday, June 26th. Finally, KeyCorp reiterated a “buy” rating on shares of Adobe Systems in a research report on Sunday, June 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $153.20.
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Adobe Systems (ADBE) opened at 148.44 on Tuesday. The stock’s 50 day moving average price is $144.12 and its 200-day moving average price is $131.39. The stock has a market cap of $73.24 billion, a price-to-earnings ratio of 51.70 and a beta of 1.00. Adobe Systems has a 12 month low of $97.15 and a 12 month high of $150.40.
In related news, EVP Donna Morris sold 5,000 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $145.00, for a total value of $725,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Lewnes sold 2,233 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $135.86, for a total value of $303,375.38. Following the completion of the transaction, the executive vice president now directly owns 64,177 shares of the company’s stock, valued at approximately $8,719,087.22. The disclosure for this sale can be found here. Insiders sold 102,519 shares of company stock valued at $14,894,384 in the last ninety days. Company insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC acquired a new position in shares of Adobe Systems during the second quarter worth approximately $100,000. CWM LLC increased its position in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after buying an additional 79 shares in the last quarter. Clean Yield Group acquired a new position in shares of Adobe Systems during the first quarter worth approximately $100,000. Washington Trust Bank increased its position in shares of Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock worth $109,000 after buying an additional 102 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Adobe Systems during the first quarter worth approximately $113,000. 88.05% of the stock is owned by hedge funds and other 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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