Zacks: Brokerages Anticipate Autodesk, Inc. (ADSK) Will Announce Quarterly Sales of $642.33 Million

Share on StockTwits

Equities research analysts predict that Autodesk, Inc. (NASDAQ:ADSK) will report $642.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Autodesk’s earnings. The lowest sales estimate is $636.19 million and the highest is $652.60 million. Autodesk reported sales of $515.30 million in the same quarter last year, which indicates a positive year over year growth rate of 24.7%. The company is expected to issue its next quarterly earnings report on Tuesday, November 27th.

According to Zacks, analysts expect that Autodesk will report full year sales of $2.50 billion for the current fiscal year, with estimates ranging from $2.49 billion to $2.52 billion. For the next financial year, analysts expect that the firm will report sales of $3.15 billion, with estimates ranging from $2.98 billion to $3.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Autodesk.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 23rd. The software company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 18.52%. The firm had revenue of $612.00 million during the quarter, compared to analysts’ expectations of $600.36 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year.

Several brokerages recently commented on ADSK. CIBC increased their price target on Autodesk from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, August 24th. Oppenheimer increased their price target on Autodesk from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, August 24th. BidaskClub raised Autodesk from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 21st. Wedbush increased their price target on Autodesk from $137.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, August 24th. Finally, Canaccord Genuity increased their price target on Autodesk from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Autodesk has an average rating of “Buy” and an average price target of $163.74.

NASDAQ ADSK traded up $7.29 during trading hours on Friday, hitting $138.18. 3,893,638 shares of the company traded hands, compared to its average volume of 2,117,360. Autodesk has a twelve month low of $101.55 and a twelve month high of $159.94. The company has a debt-to-equity ratio of -6.57, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $34.13 billion, a PE ratio of -86.36, a price-to-earnings-growth ratio of 109.17 and a beta of 1.80.

In other news, Director Lorrie M. Norrington sold 5,001 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $156.75, for a total transaction of $783,906.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Anagnost sold 23,008 shares of the stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $152.03, for a total value of $3,497,906.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,009 shares of company stock valued at $4,431,583. Insiders own 0.14% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alpha Windward LLC bought a new position in shares of Autodesk during the second quarter worth approximately $102,000. Smithfield Trust Co. bought a new position in shares of Autodesk during the second quarter worth approximately $116,000. IHT Wealth Management LLC increased its stake in shares of Autodesk by 1,142.2% during the first quarter. IHT Wealth Management LLC now owns 1,031 shares of the software company’s stock worth $127,000 after purchasing an additional 948 shares during the period. First Bank & Trust bought a new position in shares of Autodesk during the third quarter worth approximately $149,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Autodesk by 58.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,331 shares of the software company’s stock worth $174,000 after purchasing an additional 489 shares during the period. Institutional investors own 96.00% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

Featured Story: What Does Beta Mean In Stock Selection

Get a free copy of the Zacks research report on Autodesk (ADSK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.