Equities research analysts predict that Adobe Systems (NASDAQ:ADBE) will post earnings of $1.54 per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Adobe Systems’ earnings. The lowest EPS estimate is $1.50 and the highest is $1.60. Adobe Systems reported earnings of $1.02 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 51%. The business is scheduled to issue its next earnings report on Tuesday, June 19th.
According to Zacks, analysts expect that Adobe Systems will report full-year earnings of $6.39 per share for the current financial year, with EPS estimates ranging from $6.00 to $6.63. For the next year, analysts forecast that the firm will post earnings of $7.20 per share, with EPS estimates ranging from $6.79 to $7.85. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm earned ($0.43) EPS. The business’s revenue was up 23.6% on a year-over-year basis.
A number of analysts have weighed in on ADBE shares. Guggenheim reissued a “buy” rating and issued a $230.00 price target on shares of Adobe Systems in a report on Tuesday, January 23rd. Stephens reissued a “buy” rating and issued a $215.00 price target on shares of Adobe Systems in a report on Tuesday, January 23rd. Canaccord Genuity reissued a “buy” rating and issued a $220.00 price target (up from $195.00) on shares of Adobe Systems in a report on Tuesday, January 23rd. Vetr downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $200.90 price target for the company. in a report on Wednesday, January 3rd. Finally, Evercore ISI reissued a “buy” rating and issued a $220.00 price target on shares of Adobe Systems in a report on Friday, January 26th. Ten analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $217.88.
Shares of Adobe Systems stock opened at $226.52 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.22. Adobe Systems has a fifty-two week low of $129.11 and a fifty-two week high of $231.34. The firm has a market capitalization of $110,342.90, a price-to-earnings ratio of 63.10, a P/E/G ratio of 2.59 and a beta of 1.04.
In other Adobe Systems news, Chairman Shantanu Narayen sold 165,023 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $197.89, for a total transaction of $32,656,401.47. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donna Morris sold 29,404 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $197.62, for a total transaction of $5,810,818.48. The disclosure for this sale can be found here. Insiders have sold a total of 298,310 shares of company stock valued at $58,931,687 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. LPL Financial LLC grew its holdings in Adobe Systems by 2.0% during the 4th quarter. LPL Financial LLC now owns 93,910 shares of the software company’s stock worth $16,457,000 after acquiring an additional 1,832 shares during the last quarter. Financial Advocates Investment Management bought a new position in shares of Adobe Systems in the 4th quarter valued at about $269,000. Guggenheim Capital LLC boosted its stake in shares of Adobe Systems by 17.7% in the 4th quarter. Guggenheim Capital LLC now owns 700,359 shares of the software company’s stock valued at $122,732,000 after purchasing an additional 105,208 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Adobe Systems by 25.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,339 shares of the software company’s stock valued at $5,842,000 after purchasing an additional 6,663 shares during the last quarter. Finally, Bank of Hawaii boosted its stake in shares of Adobe Systems by 93.3% in the 4th quarter. Bank of Hawaii now owns 10,030 shares of the software company’s stock valued at $1,758,000 after purchasing an additional 4,840 shares during the last quarter. 87.25% of the stock is currently owned by hedge funds and other institutional investors.
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About Adobe Systems
Adobe Systems Incorporated 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. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.
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