Intuit Inc. (INTU) Releases Q1 Earnings Guidance
Intuit Inc. (NASDAQ:INTU) issued an update on its first quarter earnings guidance on Wednesday morning. 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.
Intuit Inc. (NASDAQ:INTU) opened at 110.78 on Thursday. The firm has a market cap of $28.57 billion, a P/E ratio of 30.00 and a beta of 1.05. Intuit Inc. has a 1-year low of $85.61 and a 1-year high of $116.97. The company has a 50-day moving average price of $111.06 and a 200-day moving average price of $107.19.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The company had revenue of $754 million for the quarter, compared to analyst estimates of $735.35 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, October 5th. This is a positive change from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a dividend yield of 1.23%. Intuit’s payout ratio is currently 31.91%.
INTU has been the topic of several research reports. Canaccord Genuity restated a buy rating and set a $750.00 price target on shares of Intuit in a research report on Friday, July 22nd. Goldman Sachs Group Inc. restated a buy rating and set a $123.00 price target (up from $117.00) on shares of Intuit in a research report on Thursday, June 23rd. Brean Capital restated a buy rating and set a $130.00 price target on shares of Intuit in a research report on Monday, June 20th. Bank of America Corp. reiterated a buy rating on shares of Intuit in a research note on Thursday, May 26th. Finally, Zacks Investment Research upgraded Intuit from a hold rating to a buy rating and set a $122.00 price objective for the company in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. Intuit currently has an average rating of Buy and an average target price of $194.34.
In other Intuit news, EVP Sasan K. Goodarzi sold 7,350 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Henry Tayloe Stansbury sold 2,787 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $103.86, for a total value of $289,457.82. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Cipher Capital LP bought a new stake in Intuit during the second quarter valued at about $511,000. BlueMountain Capital Management LLC acquired a new position in Intuit during the second quarter worth $667,000. Sei Investments Co. raised its position in Intuit by 4.4% in the second quarter. Sei Investments Co. now owns 309,625 shares of the company’s stock worth $34,557,000 after buying an additional 13,147 shares during the period. Janney Montgomery Scott LLC raised its position in Intuit by 95.6% in the second quarter. Janney Montgomery Scott LLC now owns 50,670 shares of the company’s stock worth $5,656,000 after buying an additional 24,768 shares during the period. Finally, Alliancebernstein L.P. raised its position in Intuit by 61.2% in the second quarter. Alliancebernstein L.P. now owns 793,194 shares of the company’s stock worth $88,528,000 after buying an additional 301,188 shares during the period. 86.01% of the stock is owned by institutional investors and hedge funds.
Intuit Company Profile
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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