Wall Street brokerages expect Autodesk, Inc. (NASDAQ:ADSK) to report sales of $557.06 million for the current quarter, Zacks reports. Seven analysts have made estimates for Autodesk’s earnings, with the highest sales estimate coming in at $562.40 million and the lowest estimate coming in at $554.42 million. Autodesk reported sales of $485.70 million in the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The company is scheduled to announce its next earnings results on Thursday, May 17th.
According to Zacks, analysts expect that Autodesk will report full-year sales of $557.06 million for the current fiscal year, with estimates ranging from $2.48 billion to $2.51 billion. For the next fiscal year, analysts expect that the company will report sales of $3.17 billion per share, with estimates ranging from $3.07 billion to $3.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Autodesk.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, March 6th. The software company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Autodesk had a negative return on equity of 206.64% and a negative net margin of 27.57%. The business had revenue of $554.00 million during the quarter, compared to analyst estimates of $544.74 million. During the same quarter in the previous year, the business earned ($0.28) earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year.
Several research analysts have issued reports on the company. OTR Global upgraded Autodesk to a “positive” rating in a research report on Monday, February 5th. Oppenheimer boosted their target price on Autodesk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, March 7th. Zacks Investment Research lowered Autodesk from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. UBS reaffirmed a “buy” rating and set a $140.00 price target on shares of Autodesk in a research note on Wednesday, November 29th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $135.00 price target on shares of Autodesk in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $139.76.
Shares of Autodesk (ADSK) traded down $1.44 during trading hours on Wednesday, hitting $134.31. The company’s stock had a trading volume of 1,950,143 shares, compared to its average volume of 2,474,332. Autodesk has a fifty-two week low of $82.70 and a fifty-two week high of $141.26. The stock has a market capitalization of $29,901.22, a price-to-earnings ratio of -51.86 and a beta of 1.82. The company has a quick ratio of 1.07, a current ratio of 0.88 and a debt-to-equity ratio of -6.20.
In other Autodesk news, Director Lorrie M. Norrington sold 6,005 shares of Autodesk stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $104.40, for a total value of $626,922.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Paul D. Underwood sold 2,089 shares of Autodesk stock in a transaction on Monday, March 12th. The stock was sold at an average price of $139.21, for a total transaction of $290,809.69. The disclosure for this sale can be found here. Insiders sold 16,171 shares of company stock valued at $1,822,299 in the last three months. 6.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. Meritage Group LP grew its holdings in shares of Autodesk by 3,910.0% during the third quarter. Meritage Group LP now owns 2,243,728 shares of the software company’s stock valued at $251,881,000 after buying an additional 2,187,774 shares during the last quarter. Viking Global Investors LP grew its holdings in shares of Autodesk by 68.5% during the fourth quarter. Viking Global Investors LP now owns 4,094,027 shares of the software company’s stock valued at $429,177,000 after buying an additional 1,664,658 shares during the last quarter. Parnassus Investments CA grew its holdings in shares of Autodesk by 100.0% during the fourth quarter. Parnassus Investments CA now owns 1,800,000 shares of the software company’s stock valued at $188,694,000 after buying an additional 900,000 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Autodesk by 337.9% during the fourth quarter. Millennium Management LLC now owns 648,395 shares of the software company’s stock valued at $67,971,000 after buying an additional 500,322 shares during the last quarter. Finally, Findlay Park Partners LLP purchased a new stake in shares of Autodesk during the third quarter valued at $55,721,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.
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Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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