How Will Autodesk (ADSK) Stock React to Q1 Earnings Release?
NEW YORK (TheStreet) -- Autodesk (ADSK) - Get Report stock is falling 1.01% to $57.40 in afternoon trading on Wednesday before the company's fiscal 2017 first quarter financial report, due out after the market close on Thursday.
The San Rafael, CA-based design software and services provider is expected to report a steep decline in earnings per share and revenue.
Wall Street is anticipating a loss of 14 cents per share for the latest quarter, down from earnings of 30 cents per share for the fiscal 2016 first quarter.
Revenue is expected to drop 20.6% year over year to $513.03 million for the quarter, compared with $646.5 million for the same quarter last year.
"We believe another noisy quarter is on tap as it won't surprise us if we get a revenue and earnings upside, but subscription downside," Canaccord analysts wrote in a note released earlier this week.
Canaccord analysts estimate net subscriber additions will be 95,000, unchanged from a year ago.
Separately, Autodesk has a "hold" rating and a letter grade of C- at TheStreet Ratings because of the company's solid stock price performance, largely solid financial position with reasonable debt levels by most measures and expanding profit margins, which offsets deteriorating net income, disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: ADSK
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
