Adobe (NASDAQ:ADBE) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of ~$1.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.05. The company issued revenue guidance of ~$2.80 billion, compared to the consensus revenue estimate of $2.83 billion.Adobe also updated its Q3 2019 guidance to $1.95-1.95 EPS.
NASDAQ:ADBE opened at $291.21 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. The firm has a market cap of $135.06 billion, a P/E ratio of 52.47, a price-to-earnings-growth ratio of 2.70 and a beta of 1.12. Adobe has a twelve month low of $204.95 and a twelve month high of $292.00.
Adobe (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 18th. The software company reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.05. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. Adobe had a net margin of 26.25% and a return on equity of 30.41%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 EPS. Sell-side analysts forecast that Adobe will post 6.24 EPS for the current year.
In other news, EVP Ann Lewnes sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $269.82, for a total value of $809,460.00. Following the completion of the sale, the executive vice president now owns 61,458 shares of the company’s stock, valued at approximately $16,582,597.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Warnock sold 1,177 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $269.47, for a total transaction of $317,166.19. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $4,335,233.36. The disclosure for this sale can be found here. Insiders sold a total of 45,981 shares of company stock valued at $12,695,246 in the last three months. Insiders own 0.32% of the company’s stock.
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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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