Analysts expect that Adobe Systems (NASDAQ:ADBE) will report $2.15 billion in sales for the current quarter, according to Zacks. Eight analysts have made estimates for Adobe Systems’ earnings. The lowest sales estimate is $2.15 billion and the highest is $2.16 billion. Adobe Systems posted sales of $1.77 billion in the same quarter last year, which suggests a positive year over year growth rate of 21.5%. The business is expected to announce its next earnings results on Tuesday, June 19th.
On average, analysts expect that Adobe Systems will report full year sales of $8.79 billion for the current year, with estimates ranging from $8.73 billion to $8.90 billion. For the next financial year, analysts forecast that the business will report sales of $10.35 billion per share, with estimates ranging from $10.07 billion to $10.53 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the business posted ($0.43) earnings per share. The company’s revenue was up 23.6% on a year-over-year basis.
In other news, EVP Donna Morris sold 29,404 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $197.62, for a total value of $5,810,818.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Shantanu Narayen sold 165,023 shares of the business’s 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 disclosure for this sale can be found here. Over the last three months, insiders sold 298,310 shares of company stock valued at $58,931,687. 0.33% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. LPL Financial LLC grew its position 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 purchasing an additional 1,832 shares during the last quarter. Financial Advocates Investment Management purchased a new stake in Adobe Systems during the 4th quarter worth approximately $269,000. Guggenheim Capital LLC grew its position in Adobe Systems by 17.7% during the 4th quarter. Guggenheim Capital LLC now owns 700,359 shares of the software company’s stock worth $122,732,000 after purchasing an additional 105,208 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Adobe Systems by 25.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,339 shares of the software company’s stock worth $5,842,000 after purchasing an additional 6,663 shares during the last quarter. Finally, Bank of Hawaii boosted its holdings 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 acquiring an additional 4,840 shares during the last quarter. Institutional investors and hedge funds own 87.25% of the company’s stock.
NASDAQ ADBE traded down $3.93 during trading on Monday, hitting $227.17. 1,244,350 shares of the company’s stock traded hands, compared to its average volume of 2,997,049. 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 12-month low of $130.28 and a 12-month high of $233.17. The firm has a market cap of $113,839.44, a price-to-earnings ratio of 63.19, a PEG ratio of 2.67 and a beta of 1.04.
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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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