Equities Analysts Offer Predictions for Adobe Systems Incorporated’s FY2018 Earnings (ADBE)

Adobe Systems Incorporated (NASDAQ:ADBE) – Investment analysts at KeyCorp boosted their FY2018 earnings per share (EPS) estimates for Adobe Systems in a research note issued on Monday, October 15th. KeyCorp analyst B. Bracelin now expects that the software company will earn $5.69 per share for the year, up from their previous forecast of $5.63. KeyCorp currently has a “Buy” rating and a $286.00 target price on the stock. KeyCorp also issued estimates for Adobe Systems’ Q4 2018 earnings at $1.56 EPS, Q4 2019 earnings at $1.79 EPS and FY2019 earnings at $6.54 EPS.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share.

Several other brokerages also recently weighed in on ADBE. Jefferies Financial Group increased their price target on Adobe Systems to $315.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Citigroup increased their price target on Adobe Systems from $260.00 to $309.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Credit Suisse Group increased their price target on Adobe Systems from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, September 14th. Griffin Securities increased their price target on Adobe Systems from $278.00 to $296.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Finally, Robert W. Baird increased their price target on Adobe Systems from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 14th. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $265.93.

Shares of NASDAQ ADBE opened at $258.91 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.66. Adobe Systems has a 1-year low of $149.03 and a 1-year high of $277.61. The firm has a market cap of $131.77 billion, a P/E ratio of 72.12, a P/E/G ratio of 2.91 and a beta of 1.08.

In other Adobe Systems news, EVP Abhay Parasnis sold 10,500 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $260.01, for a total value of $2,730,105.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Lewnes sold 2,910 shares of the firm’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $261.21, for a total value of $760,121.10. Following the completion of the sale, the executive vice president now directly owns 55,647 shares of the company’s stock, valued at approximately $14,535,552.87. The disclosure for this sale can be found here. In the last three months, insiders sold 19,290 shares of company stock valued at $5,033,567. 0.33% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of Adobe Systems during the 2nd quarter worth $107,000. Rainier Group Investment Advisory LLC acquired a new position in shares of Adobe Systems during the 1st quarter worth $130,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Adobe Systems during the 1st quarter worth $132,000. Centaurus Financial Inc. acquired a new position in shares of Adobe Systems during the 2nd quarter worth $170,000. Finally, Cerebellum GP LLC raised its stake in shares of Adobe Systems by 55.8% during the 2nd quarter. Cerebellum GP LLC now owns 712 shares of the software company’s stock worth $174,000 after buying an additional 255 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Adobe Systems 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 customers to download and install the latest versions of its creative products.

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Earnings History and Estimates for Adobe Systems (NASDAQ:ADBE)

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