Analysts expect that Adobe Systems Incorporated (NASDAQ:ADBE) will announce $0.82 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Adobe Systems’ earnings. The lowest EPS estimate is $0.81 and the highest is $0.84. Adobe Systems posted earnings per share of $0.60 in the same quarter last year, which indicates a positive year-over-year growth rate of 36.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, September 19th.
According to Zacks, analysts expect that Adobe Systems will report full-year earnings of $3.30 per share for the current financial year, with EPS estimates ranging from $3.13 to $3.41. For the next financial year, analysts expect that the firm will report earnings of $4.14 per share, with EPS estimates ranging from $4.00 to $4.26. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share.
A number of research firms recently issued reports on ADBE. Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $136.50 target price on the stock in a research report on Tuesday, March 21st. Piper Jaffray Companies reiterated an “overweight” rating and set a $160.00 price target on shares of Adobe Systems in a report on Wednesday, March 22nd. JMP Securities reiterated an “outperform” rating and set a $138.00 price target on shares of Adobe Systems in a report on Wednesday, March 22nd. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a research report on Wednesday, March 22nd. Finally, Credit Suisse Group upgraded shares of Adobe Systems from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $125.00 to $150.00 in a research report on Friday, March 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $153.20.
In other news, Director John E. Warnock sold 32,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at approximately $2,317,798.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.00, for a total transaction of $281,232.00. Following the sale, the executive vice president now owns 59,991 shares of the company’s stock, valued at approximately $8,638,704. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,019 shares of company stock valued at $11,527,134. Corporate insiders own 0.38% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in Adobe Systems during the second quarter valued at approximately $20,858,000. Aperio Group LLC raised its position in shares of Adobe Systems by 11.7% in the second quarter. Aperio Group LLC now owns 247,814 shares of the software company’s stock worth $35,051,000 after buying an additional 26,030 shares in the last quarter. Main Street Research LLC raised its position in shares of Adobe Systems by 7.1% in the second quarter. Main Street Research LLC now owns 2,723 shares of the software company’s stock worth $385,000 after buying an additional 180 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Adobe Systems by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 30,700 shares of the software company’s stock worth $4,342,000 after buying an additional 200 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Adobe Systems by 5.3% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 29,668 shares of the software company’s stock worth $4,196,000 after buying an additional 1,501 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Adobe Systems (ADBE) opened at 147.89 on Wednesday. Adobe Systems has a one year low of $95.42 and a one year high of $147.96. The company’s 50 day moving average price is $142.25 and its 200 day moving average price is $128.55. The firm has a market capitalization of $72.97 billion, a P/E ratio of 51.51 and a beta of 1.00.
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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