Adobe Systems (NASDAQ:ADBE) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.87 for the period, compared to the Thomson Reuters consensus estimate of $1.86. The company issued revenue guidance of $2.42 billion, compared to the consensus revenue estimate of $2.41 billion.

A number of equities analysts recently commented on the company. Barclays increased their price objective on Adobe Systems to $297.00 and gave the stock an overweight rating in a report on Wednesday. KeyCorp reiterated a buy rating and set a $286.00 price target (up previously from $276.00) on shares of Adobe Systems in a report on Friday. Piper Jaffray Companies reiterated an overweight rating and set a $290.00 price target on shares of Adobe Systems in a report on Friday. They noted that the move was a valuation call. BidaskClub upgraded Adobe Systems from a buy rating to a strong-buy rating in a report on Thursday. Finally, Bank of America reiterated a buy rating and set a $300.00 price target on shares of Adobe Systems in a report on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Adobe Systems has an average rating of Buy and an average target price of $245.89.

ADBE opened at $268.52 on Friday. Adobe Systems has a 1-year low of $143.95 and a 1-year high of $270.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $131.13 billion, a PE ratio of 74.80, a price-to-earnings-growth ratio of 2.91 and a beta of 1.11.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.04. Adobe Systems had a return on equity of 27.08% and a net margin of 26.68%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the business earned $1.10 earnings per share. Adobe Systems’s revenue for the quarter was up 24.4% compared to the same quarter last year. sell-side analysts predict that Adobe Systems will post 5.61 EPS for the current year.

Adobe Systems announced that its board has authorized a stock repurchase plan on Monday, May 21st that allows the company to repurchase $8.00 billion in shares. This repurchase authorization allows the software company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In related news, EVP Abhay Parasnis sold 10,500 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $260.01, for a total value of $2,730,105.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 2,939 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $253.80, for a total value of $745,918.20. Following the completion of the transaction, the executive vice president now directly owns 61,498 shares of the company’s stock, valued at $15,608,192.40. The disclosure for this sale can be found here. Insiders sold 25,324 shares of company stock valued at $6,511,829 over the last three months. 0.33% of the stock is owned by company insiders.

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. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

See Also: Price to Earnings Ratio (PE) Basics

Earnings History and Estimates for Adobe Systems (NASDAQ:ADBE)

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