Adobe (ADBE) Releases FY19 Earnings Guidance

Adobe (NASDAQ:ADBE) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.80 for the period, compared to the Thomson Reuters consensus estimate of $7.77. The company issued revenue guidance of $11.15 billion, compared to the consensus revenue estimate of $11.16 billion.Adobe also updated its FY 2019 guidance to $7.80-7.80 EPS.

Several brokerages have recently issued reports on ADBE. BidaskClub upgraded Adobe from a hold rating to a buy rating in a research note on Friday, January 11th. Zacks Investment Research lowered Adobe from a hold rating to a sell rating in a research note on Tuesday, February 12th. BMO Capital Markets lifted their price target on Adobe from $295.00 to $300.00 and gave the company an outperform rating in a research note on Friday, December 14th. ValuEngine upgraded Adobe from a hold rating to a buy rating in a research note on Tuesday, January 15th. Finally, Credit Suisse Group reiterated a buy rating and issued a $300.00 price target on shares of Adobe in a research note on Friday, January 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $284.44.

ADBE stock traded up $3.31 during midday trading on Thursday, reaching $267.69. 3,556,614 shares of the stock were exchanged, compared to its average volume of 2,972,077. The firm has a market capitalization of $129.31 billion, a P/E ratio of 48.23, a P/E/G ratio of 2.59 and a beta of 1.10. Adobe has a 52 week low of $204.95 and a 52 week high of $277.61. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 13th. The software company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.43 billion. Adobe had a return on equity of 31.19% and a net margin of 28.69%. The company’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. As a group, equities research analysts expect that Adobe will post 6.21 EPS for the current fiscal year.

In other Adobe news, EVP Matthew Thompson sold 41,560 shares of Adobe stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $245.23, for a total transaction of $10,191,758.80. Following the transaction, the executive vice president now directly owns 63,087 shares of the company’s stock, valued at approximately $15,470,825.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Lewnes sold 2,692 shares of Adobe stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $226.05, for a total value of $608,526.60. The disclosure for this sale can be found here. Insiders have sold a total of 282,344 shares of company stock worth $69,007,648 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

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Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Earnings History and Estimates for Adobe (NASDAQ:ADBE)

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