Intuit Inc. (INTU) Releases Q1 Earnings Guidance
Intuit Inc. (NASDAQ:INTU) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.01-0.03 for the period, compared to the Thomson Reuters consensus estimate of $0.03. The company issued revenue guidance of $740-760 million, compared to the consensus revenue estimate of $754.56 million.Intuit also updated its FY17 guidance to $4.30-4.40 EPS.
A number of equities analysts have recently weighed in on the company. Brean Capital reaffirmed a buy rating on shares of Intuit in a research note on Sunday, June 26th. Barclays PLC lowered Intuit from an overweight rating to an equal weight rating and upped their price objective for the stock from $110.00 to $116.00 in a research note on Friday, July 15th. Vetr lowered Intuit from a buy rating to a hold rating and set a $108.50 price objective for the company. in a research note on Wednesday, June 15th. Wedbush reaffirmed a neutral rating and issued a $105.00 price objective on shares of Intuit in a research note on Thursday, May 26th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $750.00 price objective on shares of Intuit in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $194.34.
Intuit Inc. (NASDAQ:INTU) opened at 110.78 on Thursday. The company has a 50-day moving average price of $111.06 and a 200 day moving average price of $107.19. Intuit Inc. has a 52 week low of $85.61 and a 52 week high of $116.97. The company has a market cap of $28.57 billion, a PE ratio of 30.00 and a beta of 1.05.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The business had revenue of $754 million for the quarter, compared to the consensus estimate of $735.35 million. During the same quarter last year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, October 5th. This is an increase from Intuit’s previous quarterly dividend of $0.30. Intuit’s dividend payout ratio (DPR) is currently 31.91%.
In other news, EVP Henry Tayloe Stansbury sold 2,787 shares of the firm’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $103.86, for a total value of $289,457.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sasan K. Goodarzi sold 18,567 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $109.78, for a total transaction of $2,038,285.26. Following the completion of the transaction, the executive vice president now directly owns 1,492 shares in the company, valued at approximately $163,791.76. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Intuit by 10.9% in the second quarter. FMR LLC now owns 4,090,210 shares of the company’s stock worth $456,508,000 after buying an additional 401,036 shares in the last quarter. Alliancebernstein L.P. increased its stake in Intuit by 61.2% in the second quarter. Alliancebernstein L.P. now owns 793,194 shares of the company’s stock valued at $88,528,000 after buying an additional 301,188 shares during the period. State of Wisconsin Investment Board increased its stake in Intuit by 86.9% in the second quarter. State of Wisconsin Investment Board now owns 446,197 shares of the company’s stock valued at $49,800,000 after buying an additional 207,400 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Intuit by 5.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,483,984 shares of the company’s stock valued at $388,848,000 after buying an additional 171,027 shares during the period. Finally, Marshall Wace LLP increased its stake in Intuit by 46.6% in the second quarter. Marshall Wace LLP now owns 308,035 shares of the company’s stock valued at $34,380,000 after buying an additional 97,866 shares during the period. 86.01% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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