Company Update: Adobe Systems Inc (NASDAQ:ADBE) – Adobe to Webcast Q2 FY2016 Earnings Conference Call

[Business Wire] – Adobe today announced it will webcast its second quarter fiscal year 2016 earnings conference call to be held next week. Read more on this. Adobe Systems Incorporated (ADBE) , valued at $48.62B, began trading this morning at $96.50. Looking at today’s trading action, the company’s one day range from $95.54 to $97.30 with a trailing 52-week range being $71.27 to $100.56. Priced at 34.16x this year’s forecasted earnings, ADBE shares are relatively expensive compared to the industry’s 0.54x forward p/e ratio. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $0.68 per share, which would be $0.20 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.84 is a $0.76 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 $1.40 Billion. If realized, that would be a 20.69% increase over the year-ago quarter. In terms of ratings, Canaccord Genuity Initiated ADBE at Buy (Mar 31, 2016). Previously, Dougherty & Company Initiated ADBE at to Buy. The average price target for ADBE shares is $110.38, which is 14.38% above where the stock opened this morning. See more in (NASDAQ:ADBE) Similar Articles: Stock Update: Adobe Systems Inc (NASDAQ:ADBE) – How Will Adobe Systems (ADBE) Stock React to New CIO Announcement? Market Update: Adobe Systems Inc (NASDAQ:ADBE) – Here’s Why Adobe Belongs in Your Portfolio Ahead of Earnings Company Update: Adobe Systems Inc (NASDAQ:ADBE) – Document Cloud Plays a Key Role in Adobe’s Subscription Revenue