Equities research analysts predict that Autodesk, Inc. (NASDAQ:ADSK) will report sales of $514.77 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Autodesk’s earnings, with the highest sales estimate coming in at $533.39 million and the lowest estimate coming in at $506.40 million. Autodesk reported sales of $489.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The firm is expected to announce its next quarterly earnings report after the market closes on Tuesday, November 28th.
On average, analysts expect that Autodesk will report full year sales of $514.77 million for the current fiscal year, with estimates ranging from $2.04 billion to $2.08 billion. For the next year, analysts expect that the company will report sales of $2.56 billion per share, with estimates ranging from $2.45 billion to $2.70 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Autodesk.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.05. The business had revenue of $501.80 million during the quarter, compared to analyst estimates of $493.98 million. Autodesk had a negative return on equity of 60.14% and a negative net margin of 30.01%. Autodesk’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share.
ADSK has been the subject of a number of recent analyst reports. Evercore ISI reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Autodesk in a research note on Wednesday, August 23rd. Berenberg Bank initiated coverage on Autodesk in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $136.00 price objective for the company. Cowen and Company reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Autodesk in a research note on Friday, August 18th. Deutsche Bank AG initiated coverage on Autodesk in a research note on Wednesday, July 19th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, BidaskClub lowered Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $118.26.
Autodesk (NASDAQ:ADSK) traded up $0.71 during midday trading on Monday, hitting $123.11. The stock had a trading volume of 929,400 shares, compared to its average volume of 2,011,284. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.22 and a quick ratio of 1.22. Autodesk has a 1 year low of $68.06 and a 1 year high of $126.44.
In other Autodesk news, SVP Fronzo Pascal W. Di sold 19,577 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $125.00, for a total transaction of $2,447,125.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Anagnost sold 24,004 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $112.73, for a total value of $2,705,970.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,789 shares of company stock valued at $9,189,363. 6.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ADSK. Parallel Advisors LLC raised its position in Autodesk by 4.2% during the second quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock valued at $121,000 after purchasing an additional 44 shares during the period. Cable Hill Partners LLC raised its position in Autodesk by 276.7% during the third quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock valued at $145,000 after purchasing an additional 949 shares during the period. Harfst & Associates Inc. purchased a new stake in Autodesk during the second quarter valued at approximately $150,000. IFP Advisors Inc raised its position in Autodesk by 9.3% during the second quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock valued at $171,000 after purchasing an additional 145 shares during the period. Finally, Kanawha Capital Management LLC purchased a new stake in Autodesk during the second quarter valued at approximately $202,000. Institutional investors and hedge funds own 94.63% of the company’s stock.
Autodesk Company Profile
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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