Adobe (ADBE) Releases Q2 2019 Earnings Guidance

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Adobe (NASDAQ:ADBE) issued an update on its second quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.77-1.77 for the period, compared to the Thomson Reuters consensus estimate of $1.88. The company issued revenue guidance of $2.7-2.7 billion, compared to the consensus revenue estimate of $2.55 billion.Adobe also updated its FY 2019 guidance to $7.80-7.80 EPS.

Several equities research analysts have weighed in on the company. DZ Bank reissued a hold rating on shares of Adobe in a report on Friday, February 22nd. BidaskClub downgraded Adobe from a buy rating to a hold rating in a report on Wednesday, February 20th. Cowen downgraded Adobe from an outperform rating to a market perform rating and set a $280.00 price target for the company. in a report on Friday, February 15th. Zacks Investment Research downgraded Adobe from a hold rating to a sell rating in a report on Tuesday, February 12th. Finally, Credit Suisse Group reissued a buy rating and issued a $300.00 price target on shares of Adobe in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $284.44.

ADBE stock traded up $3.31 during trading on Thursday, hitting $267.69. 3,556,614 shares of the company traded hands, compared to its average volume of 2,972,077. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. The stock has a market cap of $129.31 billion, a P/E ratio of 48.23, a P/E/G ratio of 2.59 and a beta of 1.10. Adobe has a 1 year low of $204.95 and a 1 year high of $277.61.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 13th. The software company reported $1.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.88 by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Adobe had a net margin of 28.69% and a return on equity of 31.19%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. On average, research analysts predict that Adobe will post 6.21 earnings per share for the current fiscal year.

In related news, EVP Ann Lewnes sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $258.13, for a total transaction of $774,390.00. Following the completion of the sale, the executive vice president now directly owns 72,368 shares in the company, valued at $18,680,351.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Shantanu Narayen sold 139,834 shares of the business’s stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $245.40, for a total value of $34,315,263.60. The disclosure for this sale can be found here. Insiders sold 282,344 shares of company stock valued at $69,007,648 over the last 90 days. Company insiders own 0.32% of the company’s stock.

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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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