Adobe Systems (ADBE) Updates FY18 Earnings Guidance
Adobe Systems (NASDAQ:ADBE) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of ~$5.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.51. The company issued revenue guidance of ~$8.725 billion, compared to the consensus revenue estimate of $8.73 billion.Adobe Systems also updated its Q1 guidance to ~$1.27 EPS.
A number of equities research analysts have recently issued reports on the stock. Bank of America reaffirmed a buy rating and set a $220.00 target price (up previously from $213.00) on shares of Adobe Systems in a report on Wednesday. Morgan Stanley reaffirmed an equal weight rating and set a $186.00 target price (up previously from $155.00) on shares of Adobe Systems in a report on Wednesday. Credit Suisse Group reaffirmed a buy rating and set a $190.00 target price on shares of Adobe Systems in a report on Wednesday. Cowen reaffirmed a buy rating and set a $200.00 target price on shares of Adobe Systems in a report on Monday. Finally, J P Morgan Chase & Co lowered shares of Adobe Systems from an overweight rating to a neutral rating and set a $185.00 target price for the company. in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $179.26.
Adobe Systems (NASDAQ:ADBE) traded up $4.29 during midday trading on Thursday, reaching $176.83. 4,591,700 shares of the company’s stock were exchanged, compared to its average volume of 2,451,910. Adobe Systems has a 52 week low of $101.91 and a 52 week high of $186.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $85,052.38, a PE ratio of 51.97, a P/E/G ratio of 2.18 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. Adobe Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. equities research analysts anticipate that Adobe Systems will post 3.46 EPS for the current fiscal year.
In other news, Director John E. Warnock sold 6,800 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the sale, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the 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 directly owns 52,450 shares in the company, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. Insiders sold 12,896 shares of company stock worth $2,215,246 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.
Adobe Systems Company Profile
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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