Adobe Inc. (NASDAQ:ADBE) Expected to Announce Earnings of $3.30 Per Share

Analysts expect Adobe Inc. (NASDAQ:ADBE – Get Rating) to post $3.30 earnings per share (EPS) for the current quarter, according to Zacks. Eight analysts have issued estimates for Adobe’s earnings, with the lowest EPS estimate coming in at $3.29 and the highest estimate coming in at $3.32. Adobe reported earnings of $3.03 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.9%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Adobe will report full-year earnings of $13.58 per share for the current year, with EPS estimates ranging from $13.43 to $13.80. For the next financial year, analysts expect that the company will report earnings of $15.92 per share, with EPS estimates ranging from $15.51 to $16.32. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Adobe.

Adobe (NASDAQ:ADBE – Get Rating) last released its earnings results on Tuesday, March 22nd. The software company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.77 by $0.07. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Adobe had a return on equity of 36.47% and a net margin of 29.90%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.64 EPS.

A number of brokerages recently commented on ADBE. Royal Bank of Canada decreased their price objective on Adobe from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Monday, March 21st. JPMorgan Chase & Co. reduced their target price on Adobe from $645.00 to $540.00 in a report on Wednesday, March 23rd. Evercore ISI assumed coverage on Adobe in a report on Wednesday, March 23rd. They issued a “buy” rating and a $650.00 price target on the stock. Citigroup cut their price target on Adobe from $611.00 to $455.00 and set a “neutral” rating on the stock in a report on Friday, March 18th. Finally, StockNews.com downgraded Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $584.63.

Shares of Adobe stock opened at $397.88 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.26. Adobe has a 12 month low of $370.27 and a 12 month high of $699.54. The business has a fifty day simple moving average of $425.21 and a 200 day simple moving average of $513.07. The stock has a market cap of $188.00 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09.

In other news, Director John E. Warnock sold 615 shares of the company’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $432.03, for a total transaction of $265,698.45. Following the transaction, the director now owns 410,165 shares of the company’s stock, valued at $177,203,584.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 463 shares of the company’s stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $425.79, for a total value of $197,140.77. The disclosure for this sale can be found here. Insiders have sold 11,538 shares of company stock worth $4,793,387 over the last three months. 0.23% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. boosted its holdings in shares of Adobe by 2,350.0% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 49 shares of the software company’s stock valued at $28,000 after purchasing an additional 47 shares during the period. Ulland Investment Advisors LLC purchased a new stake in Adobe during the fourth quarter worth $28,000. Clear Investment Research LLC lifted its holdings in Adobe by 120.0% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the software company’s stock worth $31,000 after buying an additional 30 shares during the period. Blue Bell Private Wealth Management LLC purchased a new stake in Adobe during the fourth quarter worth $33,000. Finally, Benjamin Edwards Inc. purchased a new stake in Adobe during the fourth quarter worth $35,000. 82.54% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Company Profile (Get Rating)

Adobe Inc operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.

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