Equities research analysts expect that Adobe Inc (NASDAQ:ADBE) will report earnings of $1.97 per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Adobe’s earnings, with the lowest EPS estimate coming in at $1.95 and the highest estimate coming in at $2.04. Adobe reported earnings of $1.73 per share during the same quarter last year, which would indicate a positive year over year growth rate of 13.9%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, September 17th.

On average, analysts expect that Adobe will report full year earnings of $7.81 per share for the current fiscal year, with EPS estimates ranging from $7.74 to $8.00. For the next year, analysts anticipate that the business will report earnings of $9.72 per share, with EPS estimates ranging from $9.45 to $10.14. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Adobe.

Adobe (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 18th. The software company reported $1.83 earnings per share (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 business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the company posted $1.66 EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis.

Several brokerages have commented on ADBE. BidaskClub cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets upped their target price on shares of Adobe from $300.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 19th. Wedbush upped their target price on shares of Adobe from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 19th. Royal Bank of Canada restated an “outperform” rating and set a $295.00 target price on shares of Adobe in a research report on Wednesday, June 19th. Finally, Wells Fargo & Co restated a “hold” rating and set a $275.00 target price (up from $250.00) on shares of Adobe in a research report on Wednesday, June 19th. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Adobe presently has an average rating of “Buy” and a consensus price target of $301.69.

Adobe stock traded down $3.39 during midday trading on Friday, reaching $288.14. The company had a trading volume of 909,880 shares, compared to its average volume of 2,328,724. The company has a market capitalization of $142.06 billion, a P/E ratio of 51.92, a P/E/G ratio of 2.61 and a beta of 1.08. Adobe has a 12-month low of $204.95 and a 12-month high of $313.11. The firm’s fifty day simple moving average is $299.97 and its 200-day simple moving average is $278.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.70 and a quick ratio of 0.70.

In other Adobe news, EVP Ann Lewnes sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $287.00, for a total value of $861,000.00. Following the sale, the executive vice president now owns 58,458 shares of the company’s stock, valued at $16,777,446. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles M. Geschke sold 13,795 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $289.96, for a total transaction of $3,999,998.20. The disclosure for this sale can be found here. Insiders sold 26,627 shares of company stock worth $7,829,264 in the last ninety days. Insiders own 0.32% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Buffington Mohr McNeal bought a new stake in Adobe during the 1st quarter worth about $26,000. Marquette Asset Management LLC increased its stake in shares of Adobe by 114.3% in the 2nd quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock valued at $27,000 after acquiring an additional 48 shares during the last quarter. JNBA Financial Advisors increased its stake in shares of Adobe by 666.7% in the 2nd quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. Manchester Financial Inc. bought a new stake in shares of Adobe in the 2nd quarter valued at about $28,000. Finally, Ellis Investment Partners LLC bought a new stake in shares of Adobe in the 2nd quarter valued at about $30,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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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