Brokerages expect Autodesk, Inc. (NASDAQ:ADSK) to announce sales of $707.09 million for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Autodesk’s earnings. The highest sales estimate is $714.10 million and the lowest is $701.00 million. Autodesk reported sales of $553.80 million in the same quarter last year, which indicates a positive year over year growth rate of 27.7%. The firm is expected to issue its next earnings report on Tuesday, March 5th.
On average, analysts expect that Autodesk will report full-year sales of $2.54 billion for the current financial year, with estimates ranging from $2.53 billion to $2.55 billion. For the next year, analysts forecast that the company will report sales of $3.21 billion, with estimates ranging from $3.06 billion to $3.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Autodesk.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 20th. The software company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Autodesk had a negative net margin of 13.37% and a negative return on equity of 3,087.49%. The company had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $641.07 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The business’s quarterly revenue was up 28.3% compared to the same quarter last year.
Several brokerages have recently commented on ADSK. Wedbush dropped their target price on shares of Autodesk from $146.00 to $131.00 and set a “positive” rating for the company in a research report on Thursday, December 27th. Zacks Investment Research lowered shares of Autodesk from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. ValuEngine lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. UBS Group upped their price objective on shares of Autodesk to $76.00 and gave the company an “underweight” rating in a research note on Wednesday, November 21st. Finally, JPMorgan Chase & Co. lowered shares of Autodesk from an “overweight” rating to a “neutral” rating and set a $137.79 target price on the stock. in a research note on Thursday, December 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $158.75.
In other Autodesk news, Director Crawford W. Beveridge sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $136.36, for a total value of $136,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. Xact Kapitalforvaltning AB raised its position in Autodesk by 0.6% in the 4th quarter. Xact Kapitalforvaltning AB now owns 38,272 shares of the software company’s stock worth $4,922,000 after purchasing an additional 228 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of Autodesk by 2.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 11,000 shares of the software company’s stock worth $1,415,000 after purchasing an additional 220 shares in the last quarter. Wetherby Asset Management Inc. grew its position in shares of Autodesk by 4.8% during the 4th quarter. Wetherby Asset Management Inc. now owns 4,778 shares of the software company’s stock worth $614,000 after purchasing an additional 221 shares in the last quarter. Advisor Partners LLC grew its position in shares of Autodesk by 22.0% during the 4th quarter. Advisor Partners LLC now owns 8,225 shares of the software company’s stock worth $1,058,000 after purchasing an additional 1,481 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Autodesk by 1.8% during the 4th quarter. D.A. Davidson & CO. now owns 84,748 shares of the software company’s stock worth $10,899,000 after purchasing an additional 1,469 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.
NASDAQ ADSK traded up $1.15 during trading on Friday, reaching $147.15. The company’s stock had a trading volume of 812,895 shares, compared to its average volume of 1,614,142. The company has a market capitalization of $30.70 billion, a P/E ratio of -91.97, a P/E/G ratio of 42.02 and a beta of 1.84. Autodesk has a 12 month low of $101.55 and a 12 month high of $159.94.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
Further Reading: Net Margin
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