Stock Update (NASDAQ:ADBE): Adobe Systems Q1 Earnings Expectations Are Cloud High

[at Investor’s Business Daily] – Digital media software firm Adobe Systems (ADBE) is expected to keep the good times rolling when it reports fiscal first-quarter earnings after the market close Thursday. Analysts polled by Thomson Reuters … Read more on this. Adobe Systems Incorporated (ADBE) , with a current market cap of $43.15B, started the session at $86.40. Today’s price range has been between $86.22 and $87.19 per share and has traded between $71.27 and $96.42 over the past year. ADBE shares are currently priced at 30.74x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.79x earnings multiple for the same period. Consensus earnings for the current quarter by the 24 sell-side analysts covering the stock is an estimate of $0.61 per share, which would be $0.17 better than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $2.76 would be a $0.68 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.34 Billion. If realized, that would be a 20.72% increase over the year-ago quarter. Recently, Dougherty & Company Initiated ADBE at Buy (Jan 14, 2016). Previously, Oppenheimer Initiated ADBE at to Perform. The average price target for ADBE shares by the analysts covering the stock is $102.70, which is 18.87% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Company Update: Adobe Systems Inc (NASDAQ:ADBE) – Document Cloud Plays a Key Role in Adobe’s Subscription Revenue Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe Systems (ADBE) Stock Price Target Cut at Credit Suisse Company Update (NASDAQ:ADBE): What to Expect When Adobe Systems (ADBE) Reports Earnings Today
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