Analysts Expect Adobe Systems Incorporated (ADBE) Will Announce Earnings of $1.69 Per Share

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Equities research analysts expect that Adobe Systems Incorporated (NASDAQ:ADBE) will report $1.69 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Adobe Systems’ earnings, with estimates ranging from $1.65 to $1.70. Adobe Systems reported earnings of $1.10 per share in the same quarter last year, which indicates a positive year over year growth rate of 53.6%. The business is expected to report its next earnings report on Tuesday, September 18th.

According to Zacks, analysts expect that Adobe Systems will report full year earnings of $6.70 per share for the current financial year, with EPS estimates ranging from $6.56 to $6.78. For the next year, analysts forecast that the business will report earnings of $7.61 per share, with EPS estimates ranging from $7.33 to $8.30. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Adobe Systems.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, June 14th. The software company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.12. Adobe Systems had a return on equity of 27.08% and a net margin of 26.68%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $1.02 earnings per share. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year.

Several research firms have recently weighed in on ADBE. BidaskClub downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $286.00 target price for the company in a research report on Tuesday, June 19th. Canaccord Genuity reiterated a “buy” rating and set a $280.00 target price (up from $245.00) on shares of Adobe Systems in a research report on Friday, June 15th. Morgan Stanley lifted their target price on Adobe Systems from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Friday, June 15th. Finally, Barclays lifted their target price on Adobe Systems from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 12th. Nine research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $241.76.

In other news, Director Charles M. Geschke sold 6,000 shares of the firm’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of $255.19, for a total transaction of $1,531,140.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann Lewnes sold 2,945 shares of the firm’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $253.50, for a total value of $746,557.50. Following the transaction, the executive vice president now owns 67,377 shares in the company, valued at approximately $17,080,069.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,324 shares of company stock worth $6,511,829. Insiders own 0.33% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Pioneer Trust Bank N A OR grew its stake in Adobe Systems by 8.0% in the second quarter. Pioneer Trust Bank N A OR now owns 2,700 shares of the software company’s stock valued at $658,000 after purchasing an additional 200 shares during the last quarter. RB Capital Management LLC grew its stake in Adobe Systems by 4.7% in the second quarter. RB Capital Management LLC now owns 4,416 shares of the software company’s stock valued at $1,077,000 after purchasing an additional 200 shares during the last quarter. Violich Capital Management Inc. grew its stake in Adobe Systems by 6.8% in the second quarter. Violich Capital Management Inc. now owns 3,125 shares of the software company’s stock valued at $762,000 after purchasing an additional 200 shares during the last quarter. Wetherby Asset Management Inc. grew its stake in Adobe Systems by 1.6% in the second quarter. Wetherby Asset Management Inc. now owns 13,344 shares of the software company’s stock valued at $3,254,000 after purchasing an additional 213 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in Adobe Systems by 4.0% in the second quarter. Private Trust Co. NA now owns 5,847 shares of the software company’s stock valued at $1,425,000 after purchasing an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Shares of NASDAQ:ADBE traded down $10.54 on Friday, hitting $256.14. 4,202,500 shares of the company’s stock were exchanged, compared to its average volume of 2,846,754. Adobe Systems has a 12 month low of $143.95 and a 12 month high of $269.96. The company has a market cap of $129.03 billion, a price-to-earnings ratio of 73.77, a price-to-earnings-growth ratio of 2.87 and a beta of 1.11. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.22.

Adobe Systems declared that its Board of Directors has approved a stock repurchase plan on Monday, May 21st that permits the company to buyback $8.00 billion in outstanding shares. This buyback authorization permits the software company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Adobe Systems Company Profile

Adobe Systems Incorporated 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 customers to download and install the latest versions of its creative products.

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Earnings History and Estimates for Adobe Systems (NASDAQ:ADBE)

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