Adobe (ADBE) to Release Quarterly Earnings on Tuesday

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Adobe (NASDAQ:ADBE) is set to issue its quarterly earnings data after the market closes on Tuesday, September 17th. Analysts expect the company to announce earnings of $1.59 per share for the quarter. Adobe has set its Q3 2019 guidance at $1.95-1.95 EPS and its Q3 guidance at ~$1.95 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Adobe (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 18th. The software company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. Adobe had a net margin of 26.25% and a return on equity of 29.96%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the firm earned $1.66 EPS. Adobe’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts expect Adobe to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.

NASDAQ ADBE opened at $278.35 on Monday. Adobe has a 52 week low of $204.95 and a 52 week high of $313.11. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10. The stock has a market cap of $134.96 billion, a price-to-earnings ratio of 50.15, a price-to-earnings-growth ratio of 2.52 and a beta of 1.11. The company has a 50-day moving average price of $289.67 and a two-hundred day moving average price of $281.20.

In other Adobe news, EVP Dana Rao sold 2,832 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $303.36, for a total value of $859,115.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Lewnes sold 3,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $289.32, for a total transaction of $867,960.00. Following the transaction, the executive vice president now owns 55,198 shares in the company, valued at approximately $15,969,885.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,627 shares of company stock valued at $8,697,224. Insiders own 0.32% of the company’s stock.

ADBE has been the subject of several recent analyst reports. KeyCorp restated a “hold” rating on shares of Adobe in a research report on Wednesday, June 19th. Canaccord Genuity increased their price objective on shares of Adobe from $300.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 19th. BMO Capital Markets raised their target price on shares of Adobe from $300.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, June 19th. Barclays raised their target price on shares of Adobe from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, June 19th. Finally, Wedbush raised their target price on shares of Adobe from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. Adobe currently has an average rating of “Buy” and an average price target of $301.95.

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 for Adobe (NASDAQ:ADBE)

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