Analysts Anticipate Adobe Inc. (NASDAQ:ADBE) Will Post Earnings of $2.79 Per Share


Share on StockTwits

Equities research analysts expect that Adobe Inc. (NASDAQ:ADBE) will announce earnings per share of $2.79 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Adobe’s earnings, with the highest EPS estimate coming in at $2.85 and the lowest estimate coming in at $2.62. Adobe reported earnings per share of $2.45 in the same quarter last year, which suggests a positive year over year growth rate of 13.9%. The business is scheduled to report its next quarterly earnings results on Thursday, June 10th.

According to Zacks, analysts expect that Adobe will report full-year earnings of $11.78 per share for the current fiscal year, with EPS estimates ranging from $11.20 to $12.05. For the next financial year, analysts anticipate that the business will post earnings of $13.65 per share, with EPS estimates ranging from $12.84 to $14.38. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Adobe.

Adobe (NASDAQ:ADBE) last announced its earnings results on Monday, March 22nd. The software company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.35. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Adobe had a net margin of 40.88% and a return on equity of 35.81%. The business’s revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.27 EPS.

Several analysts have recently issued reports on ADBE shares. JPMorgan Chase & Co. upped their target price on shares of Adobe from $585.00 to $595.00 and gave the company an “overweight” rating in a research report on Wednesday, March 24th. Barclays reiterated a “buy” rating and set a $605.00 price target on shares of Adobe in a report on Sunday, December 13th. Oppenheimer began coverage on shares of Adobe in a report on Friday, December 11th. They set a “buy” rating and a $550.00 price target on the stock. Griffin Securities reiterated a “buy” rating and set a $597.00 price target on shares of Adobe in a report on Wednesday, March 3rd. Finally, Bank of America began coverage on shares of Adobe in a report on Thursday. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $547.58.

In other news, EVP Abhay Parasnis sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $499.17, for a total value of $1,996,680.00. Following the completion of the sale, the executive vice president now owns 43,746 shares of the company’s stock, valued at approximately $21,836,690.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 600 shares of the company’s stock in a transaction that occurred on Friday, January 15th. The stock was sold at an average price of $463.07, for a total transaction of $277,842.00. Following the completion of the sale, the executive vice president now directly owns 15,467 shares of the company’s stock, valued at approximately $7,162,303.69. The disclosure for this sale can be found here. Insiders sold a total of 112,558 shares of company stock valued at $52,990,341 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Carmichael Hill & Associates Inc. purchased a new stake in Adobe during the fourth quarter valued at approximately $25,000. Concord Wealth Partners purchased a new stake in Adobe during the fourth quarter valued at approximately $32,000. Cordasco Financial Network lifted its position in Adobe by 54.3% during the fourth quarter. Cordasco Financial Network now owns 71 shares of the software company’s stock valued at $36,000 after acquiring an additional 25 shares during the last quarter. Capstone Triton Financial Group LLC purchased a new stake in Adobe during the fourth quarter valued at approximately $46,000. Finally, Curi Capital purchased a new stake in Adobe during the fourth quarter valued at approximately $48,000. 82.43% of the stock is owned by institutional investors.

Shares of NASDAQ ADBE traded up $7.54 during mid-day trading on Friday, hitting $500.95. 80,247 shares of the company’s stock traded hands, compared to its average volume of 2,869,100. The company’s 50-day moving average is $461.15 and its two-hundred day moving average is $476.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.48 and a quick ratio of 1.44. The company has a market capitalization of $239.45 billion, a P/E ratio of 46.00, a PEG ratio of 2.55 and a beta of 0.97. Adobe has a 1 year low of $308.20 and a 1 year high of $536.88.

Adobe announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 10th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the software company to buy up to 6.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, 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.

See Also: Discount Rate

Get a free copy of the Zacks research report on Adobe (ADBE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.