Adobe Systems Incorporated (ADBE) Expected to Announce Earnings of $1.26 Per Share

Equities research analysts forecast that Adobe Systems Incorporated (NASDAQ:ADBE) will announce earnings of $1.26 per share for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Adobe Systems’ earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $1.22. Adobe Systems posted earnings per share of $0.94 during the same quarter last year, which would indicate a positive year-over-year growth rate of 34%. The company is scheduled to issue its next earnings report on Thursday, March 15th.

On average, analysts expect that Adobe Systems will report full-year earnings of $5.50 per share for the current financial year, with EPS estimates ranging from $5.00 to $5.70. For the next financial year, analysts forecast that the company will post earnings of $6.68 per share, with EPS estimates ranging from $6.00 to $7.04. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Adobe Systems.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS.

ADBE has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Adobe Systems from $184.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Citigroup upped their price objective on shares of Adobe Systems from $163.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the company a “buy” rating in a research note on Friday, October 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $175.00 price objective (up previously from $163.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $185.00 price objective (up previously from $170.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $187.00.

Adobe Systems (NASDAQ:ADBE) traded down $0.47 during trading hours on Friday, reaching $195.73. 2,342,900 shares of the company’s stock were exchanged, compared to its average volume of 2,571,654. Adobe Systems has a 52 week low of $109.57 and a 52 week high of $198.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market cap of $97,320.00, a price-to-earnings ratio of 57.74, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05.

In other Adobe Systems news, Director Robert K. Burgess sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $175.39, for a total value of $4,384,750.00. Following the completion of the transaction, the director now owns 12,375 shares in the company, valued at approximately $2,170,451.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles M. Geschke sold 21,276 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $186.55, for a total value of $3,969,037.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,782 shares of company stock valued at $14,234,177. Corporate insiders own 0.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. Parkside Financial Bank & Trust boosted its holdings in Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after acquiring an additional 567 shares during the period. BB&T Investment Services Inc. boosted its stake in shares of Adobe Systems by 42.4% during the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after buying an additional 275 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Adobe Systems during the 2nd quarter valued at approximately $141,000. Acrospire Investment Management LLC boosted its stake in shares of Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the last quarter. Finally, CWH Capital Management Inc. purchased a new position in shares of Adobe Systems during the 2nd quarter valued at approximately $141,000. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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About Adobe Systems

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

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