Adobe (NASDAQ:ADBE) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $7.80-7.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.77. The company issued revenue guidance of $11.15-11.15 billion, compared to the consensus revenue estimate of $11.16 billion.Adobe also updated its FY19 guidance to $7.80 EPS.
Shares of Adobe stock opened at $253.01 on Friday. Adobe has a one year low of $204.95 and a one year high of $277.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $129.31 billion, a P/E ratio of 45.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.25). Adobe had a return on equity of 31.19% and a net margin of 28.69%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company posted $1.55 earnings per share. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. Equities research analysts expect that Adobe will post 6.21 earnings per share for the current fiscal year.
In other news, EVP Bradley Rencher sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $246.46, for a total value of $7,393,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,340 shares of the company’s stock, valued at $10,435,116.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Lewnes sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $258.13, for a total value of $774,390.00. Following the completion of the transaction, the executive vice president now directly owns 72,368 shares of the company’s stock, valued at $18,680,351.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 282,344 shares of company stock valued at $69,007,648. 0.32% of the stock is currently owned by corporate insiders.
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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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