Adobe Systems Incorporated (ADBE) Expected to Announce Earnings of $1.24 Per Share

Analysts expect that Adobe Systems Incorporated (NASDAQ:ADBE) will post $1.24 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have provided estimates for Adobe Systems’ earnings. The lowest EPS estimate is $1.18 and the highest is $1.28. Adobe Systems posted earnings of $0.94 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 31.9%. The business is expected to report its next earnings report on Thursday, March 15th.

On average, analysts expect that Adobe Systems will report full-year earnings of $5.48 per share for the current financial year, with EPS estimates ranging from $5.11 to $5.68. For the next financial year, analysts forecast that the business will post earnings of $6.61 per share, with EPS estimates ranging from $6.16 to $6.87. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Adobe Systems.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. Adobe Systems’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share.

A number of research analysts recently commented on the company. Oppenheimer reissued a “hold” rating on shares of Adobe Systems in a report on Friday. Pivotal Research reissued a “hold” rating and issued a $162.00 price target (up previously from $160.00) on shares of Adobe Systems in a report on Friday. Citigroup increased their price target on Adobe Systems to $202.00 and gave the company a “buy” rating in a report on Friday. Barclays increased their price target on Adobe Systems to $193.00 and gave the company an “overweight” rating in a report on Friday. Finally, JMP Securities increased their price target on Adobe Systems from $170.00 to $210.00 and gave the company an “outperform” rating in a report on Friday. Seven analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $183.35.

In other news, Director John E. Warnock sold 6,800 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock worth $2,554,091 over the last quarter. Insiders own 0.38% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Capital Advisors Ltd. LLC bought a new position in Adobe Systems in the 2nd quarter worth approximately $100,000. Parkside Financial Bank & Trust grew its holdings in Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after buying an additional 567 shares in the last quarter. BB&T Investment Services Inc. grew its holdings in Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after buying an additional 275 shares in the last quarter. Exane Derivatives grew its holdings in Adobe Systems by 55.0% in the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after buying an additional 340 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in Adobe Systems in the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 87.45% of the company’s stock.

Adobe Systems (NASDAQ ADBE) opened at $177.51 on Friday. The company has a market capitalization of $88,760.00, a PE ratio of 49.44, a P/E/G ratio of 2.21 and a beta of 1.05. Adobe Systems has a 1-year low of $101.91 and a 1-year high of $186.27. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.

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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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Earnings History and Estimates for Adobe Systems (NASDAQ:ADBE)

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