Equities research analysts expect Adobe Systems Incorporated (NASDAQ:ADBE) to post sales of $2.04 billion for the current quarter, Zacks reports. Nine analysts have made estimates for Adobe Systems’ earnings, with the highest sales estimate coming in at $2.05 billion and the lowest estimate coming in at $2.04 billion. Adobe Systems posted sales of $1.68 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.4%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, March 15th.
According to Zacks, analysts expect that Adobe Systems will report full-year sales of $2.04 billion for the current financial year, with estimates ranging from $8.72 billion to $8.74 billion. For the next fiscal year, analysts forecast that the company will report sales of $10.26 billion per share, with estimates ranging from $10.00 billion to $10.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping 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 net margin of 23.20% and a return on equity of 22.15%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 earnings per share.
Adobe Systems (NASDAQ:ADBE) opened at $220.94 on Tuesday. Adobe Systems has a 1-year low of $120.62 and a 1-year high of $223.11. The company has a market cap of $109,000.00, a price-to-earnings ratio of 65.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22.
In other Adobe Systems news, Director Amy Banse purchased 1,125 shares of the company’s stock in a transaction on Monday, December 18th. The shares were purchased at an average cost of $177.35 per share, for a total transaction of $199,518.75. Following the completion of the transaction, the director now owns 31,453 shares in the company, valued at $5,578,189.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total transaction of $338,845.50. Following the completion of the sale, the executive vice president now owns 50,497 shares in the company, valued at $8,761,229.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,199 shares of company stock worth $67,326,422. 0.33% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Iberiabank Corp raised its position in Adobe Systems by 2.1% in the fourth quarter. Iberiabank Corp now owns 12,277 shares of the software company’s stock worth $2,151,000 after acquiring an additional 253 shares in the last quarter. BB&T Investment Services Inc. increased its stake 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 purchasing an additional 275 shares in the last quarter. Bank of Stockton increased its stake in Adobe Systems by 4.8% in the 4th quarter. Bank of Stockton now owns 6,150 shares of the software company’s stock worth $1,077,000 after purchasing an additional 280 shares in the last quarter. Edge Advisors LLC increased its stake in Adobe Systems by 1.7% in the 3rd quarter. Edge Advisors LLC now owns 17,093 shares of the software company’s stock worth $2,549,000 after purchasing an additional 293 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Adobe Systems by 4.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,579 shares of the software company’s stock worth $1,131,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.
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About Adobe Systems
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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