Adobe Inc (NASDAQ:ADBE) Expected to Post Earnings of $2.23 Per Share

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Wall Street analysts expect Adobe Inc (NASDAQ:ADBE) to report earnings per share of $2.23 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Adobe’s earnings. The lowest EPS estimate is $2.15 and the highest is $2.26. Adobe reported earnings per share of $1.71 in the same quarter last year, which would suggest a positive year over year growth rate of 30.4%. The firm is expected to report its next earnings report on Thursday, March 12th.

According to Zacks, analysts expect that Adobe will report full year earnings of $9.80 per share for the current financial year, with EPS estimates ranging from $9.68 to $10.07. For the next financial year, analysts anticipate that the company will report earnings of $11.45 per share, with EPS estimates ranging from $11.13 to $11.94. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Adobe.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 12th. The software company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. Adobe had a return on equity of 31.47% and a net margin of 26.42%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the firm posted $1.83 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis.

A number of brokerages have recently issued reports on ADBE. Jefferies Financial Group reissued a “buy” rating and issued a $390.00 target price (up from $370.00) on shares of Adobe in a report on Thursday, January 9th. Argus reissued a “buy” rating and issued a $368.00 target price on shares of Adobe in a report on Monday, December 16th. Barclays reissued a “neutral” rating and issued a $330.00 target price on shares of Adobe in a report on Monday, December 16th. Cleveland Research raised Adobe from a “neutral” rating to a “buy” rating in a report on Monday, January 27th. Finally, Griffin Securities increased their target price on Adobe from $330.00 to $334.00 and gave the stock a “buy” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $336.28.

Shares of ADBE opened at $379.67 on Friday. Adobe has a 1 year low of $249.10 and a 1 year high of $379.83. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $347.95 and a 200-day simple moving average of $304.39. The stock has a market cap of $183.05 billion, a PE ratio of 63.28, a PEG ratio of 2.88 and a beta of 1.09.

In related news, EVP Donna Morris sold 25,481 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $348.16, for a total transaction of $8,871,464.96. Following the completion of the sale, the executive vice president now directly owns 89,690 shares of the company’s stock, valued at approximately $31,226,470.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 948 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $319.27, for a total value of $302,667.96. Following the sale, the chief accounting officer now directly owns 74 shares of the company’s stock, valued at $23,625.98. The disclosure for this sale can be found here. Insiders have sold a total of 62,793 shares of company stock valued at $21,169,089 over the last ninety days. Insiders own 0.32% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ADBE. Johanson Financial Advisors Inc. increased its holdings in Adobe by 32,093.4% during the 4th quarter. Johanson Financial Advisors Inc. now owns 1,011,196 shares of the software company’s stock valued at $3,066,000 after purchasing an additional 1,008,055 shares in the last quarter. Fisher Asset Management LLC boosted its position in Adobe by 31.3% in the 3rd quarter. Fisher Asset Management LLC now owns 4,079,637 shares of the software company’s stock valued at $1,127,000,000 after buying an additional 972,817 shares during the last quarter. BlackRock Inc. boosted its position in Adobe by 2.7% in the 2nd quarter. BlackRock Inc. now owns 33,730,576 shares of the software company’s stock valued at $9,938,712,000 after buying an additional 887,115 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in Adobe by 34.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,128,924 shares of the software company’s stock valued at $702,139,000 after buying an additional 547,982 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Adobe by 2,978.6% in the 4th quarter. SG Americas Securities LLC now owns 384,766 shares of the software company’s stock valued at $126,900,000 after buying an additional 372,268 shares during the last quarter. 85.46% of the stock is owned by hedge funds and other institutional investors.

Adobe Company Profile

Adobe Inc 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 customer to download and access the latest versions of its creative products.

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Earnings History and Estimates for Adobe (NASDAQ:ADBE)

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