Wall Street brokerages expect Intuit Inc. (NASDAQ:INTU) to announce $4.62 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Intuit’s earnings, with the highest sales estimate coming in at $4.63 billion and the lowest estimate coming in at $4.61 billion. Intuit posted sales of $3.00 billion in the same quarter last year, which suggests a positive year over year growth rate of 54%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, May 25th.
On average, analysts expect that Intuit will report full year sales of $8.95 billion for the current financial year, with estimates ranging from $8.89 billion to $9.06 billion. For the next financial year, analysts expect that the business will report sales of $10.34 billion, with estimates ranging from $10.18 billion to $10.71 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Intuit.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, February 23rd. The software maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.55. Intuit had a return on equity of 40.29% and a net margin of 25.10%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company posted $1.16 earnings per share. Intuit’s quarterly revenue was down 7.1% on a year-over-year basis.
Several equities research analysts have issued reports on INTU shares. Bank of America restated a “buy” rating and set a $460.00 price objective on shares of Intuit in a research report on Wednesday, April 14th. UBS Group raised their price objective on shares of Intuit from $375.00 to $407.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 2nd. Barclays raised their price objective on shares of Intuit from $455.00 to $480.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Morgan Stanley restated a “buy” rating and set a $470.00 price objective on shares of Intuit in a research report on Tuesday, April 6th. Finally, Wolfe Research started coverage on shares of Intuit in a research report on Wednesday, April 28th. They set an “outperform” rating and a $475.00 price objective for the company. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Intuit presently has an average rating of “Buy” and a consensus price target of $431.65.
In related news, CFO Michelle M. Clatterbuck sold 2,253 shares of the business’s stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $403.51, for a total value of $909,108.03. Following the transaction, the chief financial officer now owns 4,293 shares in the company, valued at $1,732,268.43. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James Alexander Chriss sold 364 shares of the business’s stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $407.38, for a total transaction of $148,286.32. Following the completion of the transaction, the executive vice president now owns 221 shares in the company, valued at approximately $90,030.98. The disclosure for this sale can be found here. Insiders own 3.38% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Beaumont Financial Partners LLC lifted its holdings in Intuit by 10.2% in the first quarter. Beaumont Financial Partners LLC now owns 1,233 shares of the software maker’s stock valued at $472,000 after buying an additional 114 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Intuit by 36.1% during the first quarter. Envestnet Asset Management Inc. now owns 401,203 shares of the software maker’s stock valued at $153,685,000 after purchasing an additional 106,509 shares during the period. Oak Ridge Investments LLC raised its holdings in shares of Intuit by 1,162.8% during the first quarter. Oak Ridge Investments LLC now owns 181,410 shares of the software maker’s stock valued at $69,491,000 after purchasing an additional 167,044 shares during the period. Institute for Wealth Management LLC. raised its holdings in shares of Intuit by 6.6% during the first quarter. Institute for Wealth Management LLC. now owns 1,136 shares of the software maker’s stock valued at $435,000 after purchasing an additional 70 shares during the period. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of Intuit by 32.5% during the first quarter. Mount Yale Investment Advisors LLC now owns 1,911 shares of the software maker’s stock valued at $732,000 after purchasing an additional 469 shares during the period. Institutional investors and hedge funds own 84.79% of the company’s stock.
Intuit stock traded down $13.72 during midday trading on Tuesday, reaching $397.62. 1,210,342 shares of the company’s stock were exchanged, compared to its average volume of 1,357,685. Intuit has a 52 week low of $269.54 and a 52 week high of $423.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.09 and a current ratio of 3.09. The firm has a market cap of $108.88 billion, a price-to-earnings ratio of 53.37, a P/E/G ratio of 4.29 and a beta of 0.99. The stock’s 50-day simple moving average is $400.43 and its 200 day simple moving average is $377.24.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 19th. Investors of record on Monday, April 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 0.59%. Intuit’s dividend payout ratio is 35.98%.
Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.
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