Adobe Systems (ADBE) Scheduled to Post Quarterly Earnings on Thursday
Adobe Systems (NASDAQ:ADBE) is scheduled to issue its quarterly earnings data after the market closes on Thursday, December 14th. Analysts expect the company to announce earnings of $0.96 per share for the quarter.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the firm posted $0.75 EPS. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. On average, analysts expect Adobe Systems to post $3 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Adobe Systems (NASDAQ ADBE) opened at $172.54 on Wednesday. Adobe Systems has a 1-year low of $101.91 and a 1-year high of $186.27. The stock has a market cap of $85,560.12, a PE ratio of 52.28, a P/E/G ratio of 2.19 and a beta of 1.05. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23.
ADBE has been the subject of several analyst reports. Barclays reissued a “buy” rating and set a $167.00 price target on shares of Adobe Systems in a report on Friday, September 15th. Jefferies Group began coverage on shares of Adobe Systems in a research note on Thursday, August 24th. They issued a “buy” rating and a $175.00 target price for the company. Robert W. Baird reaffirmed a “buy” rating and issued a $160.00 target price on shares of Adobe Systems in a research note on Friday, September 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $180.00 target price on shares of Adobe Systems in a research note on Tuesday, September 12th. Finally, Moffett Nathanson began coverage on shares of Adobe Systems in a research note on Wednesday, September 6th. They issued a “buy” rating and a $195.00 target price for the company. Six analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $177.56.
In other news, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the completion of the transaction, the director now owns 16,088 shares in the company, valued at $2,802,529.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total transaction of $353,864.07. Following the completion of the transaction, 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 90 days, insiders have sold 12,896 shares of company stock valued at $2,215,246. Corporate insiders own 0.38% of the company’s stock.
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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