Adobe Inc (ADBE) Expected to Announce Earnings of $1.88 Per Share
Equities research analysts expect Adobe Inc (NASDAQ:ADBE) to report earnings of $1.88 per share for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Adobe’s earnings, with estimates ranging from $1.86 to $1.94. Adobe posted earnings per share of $1.26 during the same quarter last year, which would suggest a positive year-over-year growth rate of 49.2%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, December 13th.
According to Zacks, analysts expect that Adobe will report full-year earnings of $6.80 per share for the current financial year, with EPS estimates ranging from $6.60 to $6.87. For the next year, analysts expect that the business will report earnings of $7.91 per share, with EPS estimates ranging from $7.50 to $8.31. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Adobe.
Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. Adobe had a net margin of 28.16% and a return on equity of 29.51%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The firm’s revenue was up 24.4% compared to the same quarter last year.
In other Adobe news, EVP Bradley Rencher sold 12,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $245.30, for a total value of $2,943,600.00. Following the completion of the sale, the executive vice president now directly owns 68,071 shares of the company’s stock, valued at approximately $16,697,816.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Lewnes sold 2,910 shares of the company’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $261.21, for a total transaction of $760,121.10. Following the completion of the sale, the executive vice president now directly owns 55,647 shares of the company’s stock, valued at $14,535,552.87. The disclosure for this sale can be found here. Insiders sold a total of 20,806 shares of company stock valued at $5,167,142 over the last ninety days. 0.33% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Cognios Capital LLC grew its position in shares of Adobe by 18.1% during the 2nd quarter. Cognios Capital LLC now owns 7,472 shares of the software company’s stock valued at $1,821,000 after acquiring an additional 1,144 shares during the period. Victory Capital Management Inc. grew its position in shares of Adobe by 0.6% during the 2nd quarter. Victory Capital Management Inc. now owns 81,573 shares of the software company’s stock valued at $19,888,000 after acquiring an additional 506 shares during the period. HC Financial Advisors Inc. bought a new position in shares of Adobe during the 2nd quarter valued at approximately $1,290,000. Leisure Capital Management grew its position in shares of Adobe by 84.2% during the 2nd quarter. Leisure Capital Management now owns 2,291 shares of the software company’s stock valued at $559,000 after acquiring an additional 1,047 shares during the period. Finally, West Branch Capital LLC bought a new position in shares of Adobe during the 2nd quarter valued at approximately $207,000. 85.02% of the stock is owned by institutional investors and hedge funds.
Shares of ADBE traded down $12.63 on Friday, reaching $238.00. The company’s stock had a trading volume of 3,907,100 shares, compared to its average volume of 3,158,765. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.66. Adobe has a twelve month low of $170.43 and a twelve month high of $277.61. The firm has a market capitalization of $119.99 billion, a PE ratio of 66.30, a P/E/G ratio of 2.28 and a beta of 1.14.
Adobe Inc 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. Its 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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