Autodesk, Inc. Forecasted to Earn Q2 2019 Earnings of $0.07 Per Share (ADSK)

Autodesk, Inc. (NASDAQ:ADSK) – Analysts at Wedbush lowered their Q2 2019 earnings per share (EPS) estimates for shares of Autodesk in a note issued to investors on Wednesday. Wedbush analyst S. Koenig now anticipates that the software company will earn $0.07 per share for the quarter, down from their previous estimate of $0.08. Wedbush has a “Neutral” rating and a $126.00 price target on the stock. Wedbush also issued estimates for Autodesk’s Q3 2019 earnings at $0.12 EPS and FY2019 earnings at $0.31 EPS.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 28th. The software company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. Autodesk had a negative return on equity of 75.04% and a negative net margin of 28.46%. The business had revenue of $515.30 million during the quarter, compared to the consensus estimate of $513.63 million. During the same period last year, the company earned ($0.18) EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis.

A number of other analysts also recently issued reports on the company. J P Morgan Chase & Co reissued a “buy” rating and set a $130.00 price objective on shares of Autodesk in a research report on Wednesday. Evercore ISI reissued a “buy” rating and set a $135.00 price objective on shares of Autodesk in a research report on Wednesday. Guggenheim raised their price objective on Autodesk from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity reissued a “buy” rating and set a $135.00 price objective on shares of Autodesk in a research report on Wednesday. Finally, Deutsche Bank set a $140.00 price objective on Autodesk and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $130.10.

Shares of Autodesk (ADSK) traded down $2.64 on Friday, hitting $107.06. The company’s stock had a trading volume of 4,922,928 shares, compared to its average volume of 2,118,388. Autodesk has a twelve month low of $68.06 and a twelve month high of $131.10. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.22 and a quick ratio of 1.22.

A number of institutional investors have recently made changes to their positions in ADSK. Dimensional Fund Advisors LP boosted its stake in shares of Autodesk by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 324,071 shares of the software company’s stock valued at $28,022,000 after buying an additional 19,439 shares during the period. IBM Retirement Fund boosted its stake in shares of Autodesk by 115.3% in the 2nd quarter. IBM Retirement Fund now owns 5,080 shares of the software company’s stock valued at $572,000 after buying an additional 2,721 shares during the period. Harbour Capital Advisors LLC boosted its stake in shares of Autodesk by 9,982.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 50,410 shares of the software company’s stock valued at $500,000 after buying an additional 49,910 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Autodesk by 7.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 38,441 shares of the software company’s stock valued at $3,876,000 after buying an additional 2,505 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Autodesk by 3.2% in the 2nd quarter. CIBC Asset Management Inc now owns 26,743 shares of the software company’s stock valued at $2,696,000 after buying an additional 818 shares during the period. Institutional investors own 95.85% of the company’s stock.

In related news, SVP Fronzo Pascal W. Di sold 580 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $110.91, for a total transaction of $64,327.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 5,738 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $128.14, for a total value of $735,267.32. The disclosure for this sale can be found here. Insiders have sold a total of 61,523 shares of company stock valued at $7,218,659 over the last 90 days. 6.10% of the stock is currently owned by company insiders.

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About Autodesk

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).

Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

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