Zacks: Brokerages Anticipate Autodesk, Inc. (NASDAQ:ADSK) to Announce $0.62 Earnings Per Share

Equities research analysts predict that Autodesk, Inc. (NASDAQ:ADSK) will report earnings per share of $0.62 for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Autodesk’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.60. Autodesk posted earnings per share of $0.19 in the same quarter last year, which suggests a positive year over year growth rate of 226.3%. The company is expected to announce its next quarterly earnings report on Thursday, August 22nd.

According to Zacks, analysts expect that Autodesk will report full-year earnings of $2.83 per share for the current fiscal year, with EPS estimates ranging from $2.75 to $2.92. For the next year, analysts expect that the company will report earnings of $4.59 per share, with EPS estimates ranging from $3.25 to $5.07. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Autodesk.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, May 23rd. The software company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Autodesk had a negative return on equity of 26.61% and a negative net margin of 0.82%. The company had revenue of $735.50 million during the quarter, compared to the consensus estimate of $740.14 million. During the same quarter in the prior year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year.

ADSK has been the subject of several analyst reports. Argus raised their target price on Autodesk to $184.00 and gave the stock an “average” rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Deutsche Bank raised their target price on Autodesk to $180.00 and gave the stock a “buy” rating in a research note on Thursday, February 21st. BidaskClub upgraded Autodesk from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Zacks Investment Research upgraded Autodesk from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Thursday, February 28th. Finally, Griffin Securities restated a “buy” rating and issued a $188.00 target price (up previously from $175.00) on shares of Autodesk in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $172.31.

Shares of NASDAQ ADSK opened at $163.77 on Monday. Autodesk has a 52 week low of $117.72 and a 52 week high of $178.95. The stock has a market capitalization of $35.84 billion, a price-to-earnings ratio of 1,488.82, a P/E/G ratio of 2.57 and a beta of 1.92.

In other Autodesk news, SVP Steven M. Blum sold 16,838 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $168.68, for a total value of $2,840,233.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Crawford W. Beveridge sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $161.09, for a total value of $161,090.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,738 shares of company stock worth $8,059,471. Insiders own 0.12% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in Autodesk by 7.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the software company’s stock worth $131,000 after purchasing an additional 59 shares during the period. Harfst & Associates Inc. increased its stake in Autodesk by 3.5% in the 1st quarter. Harfst & Associates Inc. now owns 1,769 shares of the software company’s stock worth $275,000 after purchasing an additional 60 shares during the period. FIL Ltd increased its stake in Autodesk by 0.7% in the 1st quarter. FIL Ltd now owns 8,469 shares of the software company’s stock worth $1,320,000 after purchasing an additional 62 shares during the period. L & S Advisors Inc increased its stake in Autodesk by 1.3% in the 4th quarter. L & S Advisors Inc now owns 5,577 shares of the software company’s stock worth $717,000 after purchasing an additional 70 shares during the period. Finally, Commonwealth Bank of Australia increased its stake in Autodesk by 3.5% in the 4th quarter. Commonwealth Bank of Australia now owns 2,148 shares of the software company’s stock worth $274,000 after purchasing an additional 72 shares during the period. 92.77% of the stock is currently owned by institutional investors.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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