Zacks: Analysts Expect Autodesk, Inc. (ADSK) Will Announce Earnings of -$0.13 Per Share
Wall Street brokerages expect Autodesk, Inc. (NASDAQ:ADSK) to post earnings of ($0.13) per share for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Autodesk’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.15). Autodesk reported earnings per share of ($0.18) during the same quarter last year, which would indicate a positive year over year growth rate of 27.8%. The firm is scheduled to report its next earnings report on Tuesday, December 5th.
On average, analysts expect that Autodesk will report full-year earnings of ($0.53) per share for the current fiscal year, with EPS estimates ranging from ($0.57) to ($0.33). For the next financial year, analysts forecast that the business will report earnings of $1.15 per share, with EPS estimates ranging from $0.72 to $1.80. Zacks’ EPS calculations are an average based on a survey of analysts that cover Autodesk.
Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.05. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The company had revenue of $501.80 million for the quarter, compared to the consensus estimate of $493.98 million. During the same quarter in the previous year, the company earned $0.05 EPS. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year.
ADSK has been the topic of a number of recent analyst reports. Cowen and Company reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Autodesk in a research note on Friday, August 18th. Berenberg Bank initiated coverage on Autodesk in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $136.00 price objective on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $125.00 price objective (up from $120.00) on shares of Autodesk in a research note on Friday, August 25th. BidaskClub lowered Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Autodesk in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $118.26.
Shares of Autodesk (NASDAQ ADSK) traded up 1.27% during mid-day trading on Friday, hitting $120.81. The stock had a trading volume of 1,647,622 shares. The stock’s 50-day moving average is $115.13 and its 200-day moving average is $106.14. Autodesk has a 1-year low of $67.15 and a 1-year high of $121.88. The firm’s market capitalization is $26.48 billion.
In other Autodesk news, SVP Steven M. Blum sold 9,128 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $112.26, for a total value of $1,024,709.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Crawford W. Beveridge sold 1,500 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $112.82, for a total value of $169,230.00. The disclosure for this sale can be found here. In the last three months, insiders sold 60,212 shares of company stock worth $6,742,238. Insiders own 6.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Autodesk by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock valued at $2,058,545,000 after buying an additional 466,724 shares during the last quarter. BlackRock Inc. lifted its position in shares of Autodesk by 4.8% during the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock valued at $1,612,787,000 after buying an additional 735,647 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Autodesk by 18.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,792,955 shares of the software company’s stock valued at $281,589,000 after buying an additional 436,261 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Autodesk by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 2,678,479 shares of the software company’s stock valued at $270,044,000 after buying an additional 147,911 shares during the last quarter. Finally, Fred Alger Management Inc. lifted its position in shares of Autodesk by 52.3% during the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock valued at $243,405,000 after buying an additional 829,021 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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