Wall Street analysts expect that Adobe Systems Incorporated (NASDAQ:ADBE) will post $1.26 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Adobe Systems’ earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $1.22. Adobe Systems reported earnings of $0.94 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 34%. The business is expected to report its next earnings report on Thursday, March 15th.
According to Zacks, analysts expect that Adobe Systems will report full-year earnings of $5.49 per share for the current year, with EPS estimates ranging from $5.00 to $5.70. For the next fiscal year, analysts anticipate that the firm will report earnings of $6.65 per share, with EPS estimates ranging from $6.00 to $6.97. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Adobe Systems.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year.
ADBE has been the subject of several recent research reports. BMO Capital Markets restated an “outperform” rating and set a $165.00 target price on shares of Adobe Systems in a report on Thursday, September 21st. Robert W. Baird set a $160.00 target price on shares of Adobe Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Barclays increased their target price on shares of Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Vetr cut shares of Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 target price for the company. in a report on Thursday, October 19th. Finally, Cowen restated a “buy” rating and set a $200.00 target price on shares of Adobe Systems in a report on Monday, December 11th. Eight research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $187.06.
In related news, Director Amy Banse bought 1,125 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was bought at an average price of $177.35 per share, for a total transaction of $199,518.75. Following the purchase, the director now owns 31,453 shares in the company, valued at approximately $5,578,189.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the sale, the executive vice president now owns 52,450 shares of the company’s stock, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,449 shares of company stock valued at $12,126,521. Corporate insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Aviva PLC lifted its stake in shares of Adobe Systems by 0.4% during the 2nd quarter. Aviva PLC now owns 312,394 shares of the software company’s stock worth $44,194,000 after buying an additional 1,250 shares during the last quarter. Bender Robert & Associates acquired a new stake in shares of Adobe Systems during the 3rd quarter worth about $3,476,000. Grove Bank & Trust increased its position in Adobe Systems by 14.9% during the third quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock worth $678,000 after acquiring an additional 591 shares during the period. Arcadia Investment Management Corp MI increased its position in Adobe Systems by 6.9% during the second quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock worth $4,886,000 after acquiring an additional 2,242 shares during the period. Finally, BARING ASSET MANAGEMENT Ltd increased its position in Adobe Systems by 12.0% during the second quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock worth $3,776,000 after acquiring an additional 2,864 shares during the period. Institutional investors own 87.08% of the company’s stock.
Shares of Adobe Systems (NASDAQ ADBE) traded up $2.12 during mid-day trading on Tuesday, hitting $185.34. 2,260,327 shares of the stock traded hands, compared to its average volume of 2,920,000. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems has a 52 week low of $103.77 and a 52 week high of $186.27. The company has a market capitalization of $91,360.00, a P/E ratio of 54.67, a price-to-earnings-growth ratio of 2.32 and a beta of 1.05.
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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