Autodesk, Inc. (ADSK) Expected to Post Quarterly Sales of $544.51 Million

Wall Street brokerages expect Autodesk, Inc. (NASDAQ:ADSK) to post sales of $544.51 million for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Autodesk’s earnings. The lowest sales estimate is $541.75 million and the highest is $547.86 million. Autodesk posted sales of $478.80 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.7%. The firm is expected to announce its next quarterly earnings results on Thursday, March 1st.

On average, analysts expect that Autodesk will report full-year sales of $544.51 million for the current year, with estimates ranging from $2.04 billion to $2.05 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.55 billion per share, with estimates ranging from $2.47 billion to $2.70 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Autodesk.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 28th. The software company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.01. Autodesk had a negative return on equity of 93.60% and a negative net margin of 28.46%. The firm had revenue of $515.30 million during the quarter, compared to the consensus estimate of $513.63 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year.

A number of research analysts have issued reports on ADSK shares. Robert W. Baird set a $125.00 price target on Autodesk and gave the company a “buy” rating in a report on Sunday, October 1st. KeyCorp reissued a “buy” rating and issued a $128.00 price target on shares of Autodesk in a report on Friday, October 6th. Evercore ISI set a $135.00 price target on Autodesk and gave the company a “buy” rating in a report on Wednesday, October 18th. Guggenheim raised Autodesk from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a report on Monday, November 13th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Autodesk in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $132.68.

Autodesk (NASDAQ:ADSK) opened at $115.29 on Monday. Autodesk has a twelve month low of $79.15 and a twelve month high of $131.10. The stock has a market capitalization of $25,394.56, a P/E ratio of -44.86 and a beta of 1.92. The company has a debt-to-equity ratio of 14.78, a current ratio of 1.07 and a quick ratio of 1.07.

In related news, SVP Fronzo Pascal W. Di sold 19,577 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $125.00, for a total transaction of $2,447,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lorrie M. Norrington sold 6,005 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $104.40, for a total value of $626,922.00. The disclosure for this sale can be found here. Insiders sold 38,825 shares of company stock valued at $4,595,671 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Cable Hill Partners LLC increased its position in shares of Autodesk by 276.7% during the third quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock worth $145,000 after purchasing an additional 949 shares in the last quarter. Frontier Wealth Management LLC acquired a new position in Autodesk during the second quarter worth $206,000. Cedar Capital LLC acquired a new position in Autodesk during the third quarter worth $207,000. Wedbush Securities Inc. acquired a new position in Autodesk during the third quarter worth $216,000. Finally, Synovus Financial Corp acquired a new position in Autodesk during the third quarter worth $227,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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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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Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

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