Equities research analysts expect that Intuit Inc. (NASDAQ:INTU) will report $1.48 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Intuit’s earnings, with the highest sales estimate coming in at $1.48 billion and the lowest estimate coming in at $1.46 billion. Intuit posted sales of $1.17 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 26.5%. The business is expected to issue its next quarterly earnings results on Thursday, February 28th.
On average, analysts expect that Intuit will report full-year sales of $6.61 billion for the current fiscal year, with estimates ranging from $6.57 billion to $6.66 billion. For the next year, analysts anticipate that the firm will post sales of $7.25 billion, with estimates ranging from $7.10 billion to $7.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Intuit.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Monday, November 19th. The software maker reported $0.29 EPS for the quarter, beating the consensus estimate of $0.11 by $0.18. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $971.45 million. Intuit had a net margin of 20.71% and a return on equity of 56.35%. Intuit’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS.
A number of brokerages have commented on INTU. Royal Bank of Canada downgraded shares of Intuit from an “outperform” rating to a “sector perform” rating and set a $197.05 price objective for the company. in a research report on Sunday, December 2nd. BidaskClub raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Argus lowered their price objective on shares of Intuit from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. Deutsche Bank lowered their price objective on shares of Intuit from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. Finally, Credit Suisse Group set a $250.00 price objective on shares of Intuit and gave the company a “buy” rating in a research note on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $219.71.
Shares of Intuit stock opened at $211.55 on Friday. The firm has a market cap of $53.89 billion, a price-to-earnings ratio of 46.70, a PEG ratio of 2.42 and a beta of 1.19. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.13. Intuit has a one year low of $150.43 and a one year high of $231.84.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Thursday, January 10th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.89%. Intuit’s dividend payout ratio is currently 41.50%.
In other Intuit news, CEO Brad D. Smith sold 254,325 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $227.66, for a total transaction of $57,899,629.50. Following the sale, the chief executive officer now directly owns 415,445 shares of the company’s stock, valued at approximately $94,580,208.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $221.58, for a total transaction of $22,158,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 701,533 shares of company stock worth $148,887,741 over the last ninety days. 4.60% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC bought a new position in Intuit in the second quarter valued at about $356,000. Dupont Capital Management Corp increased its stake in shares of Intuit by 26.5% in the second quarter. Dupont Capital Management Corp now owns 2,419 shares of the software maker’s stock valued at $494,000 after buying an additional 506 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Intuit by 31.6% in the second quarter. Commonwealth Equity Services LLC now owns 19,237 shares of the software maker’s stock valued at $3,930,000 after buying an additional 4,623 shares during the period. Smith Asset Management Group LP increased its stake in shares of Intuit by 4.4% in the second quarter. Smith Asset Management Group LP now owns 236,236 shares of the software maker’s stock valued at $48,264,000 after buying an additional 10,000 shares during the period. Finally, Cognios Capital LLC acquired a new stake in shares of Intuit in the second quarter valued at about $1,028,000. 87.90% of the stock is currently owned by institutional investors.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
Featured Story: How to calculate the intrinsic value of a stock
Get a free copy of the Zacks research report on Intuit (INTU)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.