Autodesk, Inc. (NASDAQ:ADSK) Expected to Announce Earnings of -$0.37 Per Share
Brokerages predict that Autodesk, Inc. (NASDAQ:ADSK) will post earnings per share (EPS) of ($0.37) for the current quarter, according to Zacks. Eight analysts have made estimates for Autodesk’s earnings. The lowest EPS estimate is ($0.49) and the highest is ($0.29). Autodesk reported earnings of ($0.10) per share during the same quarter last year, which indicates a negative year over year growth rate of 270%. The company is scheduled to issue its next earnings results on Thursday, August 24th.
On average, analysts expect that Autodesk will report full year earnings of ($1.55) per share for the current year, with EPS estimates ranging from ($1.84) to ($1.40). For the next year, analysts expect that the business will post earnings of ($0.13) per share, with EPS estimates ranging from ($1.46) to $0.42. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Autodesk.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.08. The business had revenue of $485.70 million during the quarter, compared to the consensus estimate of $470.27 million. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) earnings per share.
ADSK has been the subject of several analyst reports. Morgan Stanley raised shares of Autodesk from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $69.00 to $115.00 in a research note on Monday, May 1st. Wedbush upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $78.00 to $120.00 in a report on Tuesday, May 9th. William Blair restated an “outperform” rating on shares of Autodesk in a report on Sunday, May 21st. Credit Suisse Group AG assumed coverage on shares of Autodesk in a report on Thursday, April 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Finally, Bank of America Corporation upgraded shares of Autodesk from an “underperform” rating to a “neutral” rating and set a $125.00 price objective on the stock in a report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $104.50.
In other news, SVP Jan Becker sold 2,865 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $95.73, for a total value of $274,266.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl Bass sold 13,377 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $99.95, for a total transaction of $1,337,031.15. The disclosure for this sale can be found here. Insiders sold a total of 170,570 shares of company stock valued at $17,865,037 in the last 90 days. Company insiders own 6.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. NBT Bank N A NY purchased a new stake in shares of Autodesk during the first quarter valued at about $210,000. Venturi Wealth Management LLC purchased a new stake in shares of Autodesk during the first quarter valued at about $211,000. Gilbert & Cook Inc. purchased a new stake in shares of Autodesk during the second quarter valued at about $212,000. Joel Isaacson & Co. LLC purchased a new stake in shares of Autodesk during the first quarter valued at about $216,000. Finally, Jacobs & Co. CA purchased a new stake in shares of Autodesk during the second quarter valued at about $220,000. Institutional investors own 97.39% of the company’s stock.
Shares of Autodesk (NASDAQ:ADSK) traded down 0.15% during mid-day trading on Wednesday, reaching $109.75. 1,116,428 shares of the company’s stock traded hands. Autodesk has a 12-month low of $56.80 and a 12-month high of $114.68. The company’s 50-day moving average price is $106.50 and its 200-day moving average price is $92.72. The stock’s market capitalization is $24.19 billion.
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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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