Adobe (NASDAQ:ADBE) issued an update on its fourth quarter 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.25-2.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.97. The company issued revenue guidance of $2.97-2.97 billion, compared to the consensus revenue estimate of $2.82 billion.Adobe also updated its Q4 guidance to $2.25 EPS.
NASDAQ:ADBE opened at $281.26 on Friday. Adobe has a 52 week low of $204.95 and a 52 week high of $313.11. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $138.20 billion, a P/E ratio of 50.68, a P/E/G ratio of 2.58 and a beta of 1.11. The stock’s fifty day moving average is $286.17 and its two-hundred day moving average is $281.75.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.08. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.82 billion. Adobe had a return on equity of 30.90% and a net margin of 26.10%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. Sell-side analysts anticipate that Adobe will post 6.3 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the company. Bank of America boosted their price objective on Adobe from $312.00 to $323.00 and gave the company a buy rating in a report on Wednesday, June 19th. Stifel Nicolaus reiterated a neutral rating on shares of Adobe in a report on Wednesday. Stephens set a $327.00 price objective on Adobe and gave the company a buy rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price objective on Adobe from $329.00 to $318.00 and set a neutral rating on the stock in a report on Wednesday. Finally, ValuEngine downgraded Adobe from a buy rating to a hold rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. Adobe currently has a consensus rating of Buy and a consensus target price of $301.64.
In other Adobe news, EVP Ann Lewnes sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $307.13, for a total transaction of $921,390.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles M. Geschke sold 13,795 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $289.96, for a total value of $3,999,998.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,627 shares of company stock worth $6,648,464. 0.32% of the stock is owned by company insiders.
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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