Adobe (NASDAQ:ADBE) is set to post its quarterly earnings results after the market closes on Tuesday, September 17th. Analysts expect Adobe to post earnings of $1.59 per share for the quarter. Adobe has set its Q3 2019 guidance at $1.95-1.95 EPS and its Q3 guidance at ~$1.95 EPS.
Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, June 18th. The software company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.70 billion. Adobe had a net margin of 26.25% and a return on equity of 29.96%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. On average, analysts expect Adobe to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.
NASDAQ ADBE opened at $279.30 on Tuesday. Adobe has a 52 week low of $204.95 and a 52 week high of $313.11. The company has a 50 day moving average price of $291.57 and a 200 day moving average price of $280.93. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.10. The firm has a market cap of $139.69 billion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 2.61 and a beta of 1.11.
Several equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Stephens set a $327.00 price target on Adobe and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays increased their price objective on Adobe from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, June 19th. BMO Capital Markets raised their price objective on Adobe from $300.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 19th. Finally, Bank of America raised their price objective on Adobe from $312.00 to $323.00 and gave the stock a “buy” rating in a research report on Wednesday, June 19th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $301.69.
In other Adobe news, Director John E. Warnock sold 4,000 shares of Adobe stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $296.94, for a total transaction of $1,187,760.00. Following the completion of the transaction, the director now owns 16,088 shares in the company, valued at approximately $4,777,170.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Lewnes sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $287.00, for a total value of $861,000.00. Following the completion of the transaction, the executive vice president now directly owns 58,458 shares of the company’s stock, valued at approximately $16,777,446. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,627 shares of company stock worth $8,697,224. 0.32% of the stock is owned by corporate insiders.
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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