Equities research analysts predict that Adobe Systems Incorporated (NASDAQ:ADBE) will announce earnings of $1.15 per share for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Adobe Systems’ earnings, with the lowest EPS estimate coming in at $1.14 and the highest estimate coming in at $1.17. Adobe Systems reported earnings per share of $0.90 during the same quarter last year, which suggests a positive year-over-year growth rate of 27.8%. The company is scheduled to report its next quarterly earnings report on Thursday, December 21st.
According to Zacks, analysts expect that Adobe Systems will report full-year earnings of $4.20 per share for the current financial year, with EPS estimates ranging from $3.95 to $4.23. For the next year, analysts expect that the business will post earnings of $5.38 per share, with EPS estimates ranging from $5.00 to $5.55. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS.
ADBE has been the topic of several research reports. KeyCorp restated a “buy” rating on shares of Adobe Systems in a research note on Sunday, June 25th. Jefferies Group LLC began coverage on Adobe Systems in a research note on Thursday, August 24th. They issued a “buy” rating and a $175.00 target price on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $157.00 target price on shares of Adobe Systems in a research note on Monday, July 31st. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price on the stock in a research note on Tuesday, July 18th. Finally, BidaskClub lowered Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $168.59.
In other news, CMO Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 5,859 shares of company stock valued at $887,931. Corporate insiders own 0.38% of the company’s stock.
Several hedge funds have recently made changes to their positions in ADBE. Capital Advisors Ltd. LLC acquired a new position in shares of Adobe Systems during the 2nd quarter worth approximately $100,000. CWM LLC raised its stake in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after buying an additional 79 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Adobe Systems by 86.2% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Adobe Systems during the 2nd quarter worth approximately $141,000. Finally, Acrospire Investment Management LLC raised its stake in shares of Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the period. 87.49% of the stock is owned by institutional investors and hedge funds.
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Adobe Systems (NASDAQ ADBE) traded up 2.28% during mid-day trading on Friday, hitting $175.64. 6,019,412 shares of the stock were exchanged. The stock has a market cap of $86.58 billion, a price-to-earnings ratio of 55.22 and a beta of 0.98. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $175.87. The stock has a 50 day moving average of $153.06 and a 200-day moving average of $144.36.
Adobe Systems Company Profile
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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