NEW YORK (TheStreet) -- Shares of Autodesk (ADSK) are slightly lower by 0.31% to $58.92 in morning trading Thursday, ahead of the application software company's third quarter earnings release after the market close today.
For the third quarter, analysts are expecting the company to post earnings of 22 cents per share, lower compared to the 39 cents per share Autodesk delivered a year ago.
Analysts forecast revenue of $601.88 million for the quarter, up from the $555.2 million the company reported in the same quarter of last year.
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San Rafael, CA-based Autodesk is a design software and service company, specializing in the 3D design, architecture, engineering and construction; manufacturing; and digital media, consumer and entertainment industries.
Separately, TheStreet Ratings team rates AUTODESK INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AUTODESK INC (ADSK) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."