Adobe Systems Incorporated (NASDAQ:ADBE) – Investment analysts at Griffin Securities boosted their FY2017 earnings per share (EPS) estimates for Adobe Systems in a report released on Wednesday. Griffin Securities analyst now anticipates that the software company will post earnings per share of $3.49 for the year, up from their prior forecast of $3.41. Griffin Securities also issued estimates for Adobe Systems’ Q1 2018 earnings at $0.97 EPS, Q2 2018 earnings at $1.02 EPS, Q3 2018 earnings at $1.12 EPS, Q4 2018 earnings at $1.22 EPS and FY2018 earnings at $4.34 EPS.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. COPYRIGHT VIOLATION NOTICE: This news story was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://ledgergazette.com/2017/09/25/equities-analysts-offer-predictions-for-adobe-systems-incorporateds-fy2017-earnings-adbe.html.
A number of other brokerages have also recently issued reports on ADBE. BMO Capital Markets restated an “outperform” rating on shares of Adobe Systems in a report on Tuesday, September 12th. Jefferies Group LLC restated a “buy” rating and set a $175.00 target price on shares of Adobe Systems in a report on Tuesday, September 12th. Canaccord Genuity restated a “buy” rating and set a $170.00 target price (up previously from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Wells Fargo & Co restated a “hold” rating and set a $145.00 target price (up previously from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $163.00 price objective on shares of Adobe Systems in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Adobe Systems currently has an average rating of “Buy” and an average price target of $158.25.
Shares of Adobe Systems (NASDAQ ADBE) opened at 148.50 on Monday. The firm’s 50-day moving average price is $151.61 and its 200 day moving average price is $140.16. The firm has a market cap of $73.27 billion, a P/E ratio of 46.68 and a beta of 1.00. Adobe Systems has a 12-month low of $98.00 and a 12-month high of $157.89.
A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in Adobe Systems by 4.9% in the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after purchasing an additional 1,651,762 shares in the last quarter. BlackRock Inc. increased its holdings in Adobe Systems by 8.2% in the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after purchasing an additional 2,621,275 shares in the last quarter. Vanguard Group Inc. increased its holdings in Adobe Systems by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after purchasing an additional 943,487 shares in the last quarter. State Street Corp increased its holdings in Adobe Systems by 1.2% in the 1st quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock worth $2,539,679,000 after purchasing an additional 234,270 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Adobe Systems by 784.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after purchasing an additional 9,957,241 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total transaction of $304,433.64. Following the completion of the transaction, the executive vice president now owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donna Morris sold 10,000 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 64,359 shares of company stock valued at $9,449,192 in the last three months. 0.38% of the stock is owned by insiders.
About Adobe Systems
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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