Autodesk, Inc. (ADSK) Expected to Announce Quarterly Sales of $472.6 Million
Wall Street analysts expect that Autodesk, Inc. (NASDAQ:ADSK) will post sales of $472.6 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Autodesk’s earnings, with the highest sales estimate coming in at $479.2 million and the lowest estimate coming in at $465.9 million. Autodesk posted sales of $511.9 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.7%. The company is expected to issue its next earnings report on Thursday, May 18th.
According to Zacks, analysts expect that Autodesk will report full-year sales of $472.6 million for the current fiscal year, with estimates ranging from $2.01 billion to $2.05 billion. For the next year, analysts anticipate that the business will post sales of $2.56 billion per share, with estimates ranging from $2.48 billion to $2.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Autodesk.
Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, March 2nd. The software company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.06. Autodesk had a negative net margin of 20.30% and a negative return on equity of 13.74%. The business earned $478.80 million during the quarter, compared to analysts’ expectations of $476.06 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue was down 26.1% on a year-over-year basis.
Several brokerages have commented on ADSK. Robert W. Baird began coverage on shares of Autodesk in a research report on Tuesday, February 28th. They set an “outperform” rating and a $100.00 price target on the stock. Griffin Securities boosted their price target on shares of Autodesk from $94.00 to $99.00 and gave the stock a “buy” rating in a research report on Friday, March 3rd. Wedbush cut their price target on shares of Autodesk from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, March 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $87.00 price target (up from $84.00) on shares of Autodesk in a research report on Friday, March 3rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $100.00 price target (up from $95.00) on shares of Autodesk in a research report on Friday, March 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Autodesk has an average rating of “Hold” and a consensus price target of $81.00.
Autodesk (NASDAQ:ADSK) traded up 0.21% during midday trading on Friday, hitting $86.17. 800,151 shares of the company traded hands. The company’s market capitalization is $19.03 billion. The stock’s 50-day moving average price is $85.60 and its 200 day moving average price is $79.05. Autodesk has a 12-month low of $49.82 and a 12-month high of $89.18.
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In related news, Director Mary T. Mcdowell sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $87.91, for a total value of $1,758,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Crawford W. Beveridge sold 7,000 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $82.48, for a total transaction of $577,360.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,113 shares of company stock worth $10,785,367. 6.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Autodesk during the third quarter worth approximately $101,000. Parallel Advisors LLC bought a new position in shares of Autodesk during the fourth quarter worth approximately $137,000. Independent Advisor Alliance bought a new position in shares of Autodesk during the fourth quarter worth approximately $138,000. Baird Financial Group Inc. raised its position in shares of Autodesk by 1.0% in the fourth quarter. Baird Financial Group Inc. now owns 2,838 shares of the software company’s stock worth $210,000 after buying an additional 29 shares during the period. Finally, Private Advisor Group LLC bought a new position in shares of Autodesk during the fourth quarter worth approximately $216,000. Institutional investors and hedge funds own 97.13% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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