Adobe Systems Incorporated (ADBE) to Post FY2017 Earnings of $3.48 Per Share, Jefferies Group Forecasts
Adobe Systems Incorporated (NASDAQ:ADBE) – Investment analysts at Jefferies Group lifted their FY2017 earnings per share estimates for Adobe Systems in a research note issued to investors on Tuesday. Jefferies Group analyst B. Thill now anticipates that the software company will earn $3.48 per share for the year, up from their previous 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.
Several other equities research analysts also recently commented on ADBE. Royal Bank Of Canada upped their target price on shares of Adobe Systems from $135.00 to $157.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Vetr downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price for the company. in a research note on Thursday, May 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $160.00 target price (up previously from $140.00) on shares of Adobe Systems in a research note on Friday, June 9th. Pivotal Research cut shares of Adobe Systems from a “hold” rating to a “sell” rating and upped their price target for the company from $109.00 to $112.00 in a report on Monday, June 12th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $161.00 price target (up previously from $141.00) on shares of Adobe Systems in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $157.28.
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Adobe Systems (NASDAQ:ADBE) opened at 149.30 on Friday. The firm has a market cap of $73.67 billion, a price-to-earnings ratio of 52.00 and a beta of 1.00. Adobe Systems has a 1-year low of $98.00 and a 1-year high of $157.89. The company has a 50-day moving average of $151.61 and a 200-day moving average of $140.16. Adobe Systems also was the recipient of some unusual options trading activity on Wednesday. Stock investors bought 27,240 put options on the stock. This is an increase of approximately 752% compared to the average daily volume of 3,199 put options.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue was up 25.8% on a year-over-year basis.
In related news, EVP Donna Morris sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total transaction of $304,433.64. Following the transaction, the executive vice president now directly owns 56,356 shares in the company, valued at $8,784,773.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,359 shares of company stock worth $9,449,192. 0.38% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Adobe Systems by 4.9% during the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after acquiring an additional 1,651,762 shares during the period. BlackRock Inc. grew its stake in Adobe Systems by 8.2% during the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after buying an additional 2,621,275 shares in the last quarter. Vanguard Group Inc. grew its stake in Adobe Systems by 2.9% during the second quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after buying an additional 943,487 shares in the last quarter. State Street Corp grew its stake in Adobe Systems by 1.2% during the first quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock worth $2,539,679,000 after buying an additional 234,270 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Adobe Systems by 784.4% during the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after buying an additional 9,957,241 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.
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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