Intuit Inc. (INTU) Expected to Post Quarterly Sales of $808.33 Million
Analysts predict that Intuit Inc. (NASDAQ:INTU) will post sales of $808.33 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Intuit’s earnings. The highest sales estimate is $815.00 million and the lowest is $804.86 million. Intuit reported sales of $754.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.2%. The firm is expected to issue its next earnings report on Tuesday, August 22nd.
On average, analysts expect that Intuit will report full-year sales of $808.33 million for the current financial year, with estimates ranging from $5.09 billion to $5.15 billion. For the next year, analysts expect that the firm will report sales of $5.56 billion per share, with estimates ranging from $5.50 billion to $5.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Intuit.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.87 by $0.03. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.43 earnings per share.
A number of research firms have recently commented on INTU. CIBC boosted their price target on shares of Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, May 26th. Barclays PLC reduced their price target on shares of Intuit from $129.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, April 24th. Credit Suisse Group boosted their price target on shares of Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Monday, May 29th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $141.00 price target (up from $125.00) on shares of Intuit in a research report on Thursday, May 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $204.17.
Shares of Intuit (INTU) traded up 1.15% during midday trading on Friday, reaching $135.19. The company had a trading volume of 1,080,405 shares. Intuit has a one year low of $103.22 and a one year high of $143.81. The firm has a market capitalization of $34.64 billion, a P/E ratio of 38.85 and a beta of 1.14. The company has a 50 day moving average price of $137.32 and a 200-day moving average price of $125.42.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, July 6th. Intuit’s dividend payout ratio (DPR) is 39.19%.
In other news, EVP Henry Tayloe Stansbury sold 3,742 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $137.92, for a total transaction of $516,096.64. Following the completion of the transaction, the executive vice president now directly owns 4,580 shares of the company’s stock, valued at $631,673.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis D. Powell sold 16,686 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $136.82, for a total transaction of $2,282,978.52. Following the transaction, the director now directly owns 4,554 shares of the company’s stock, valued at $623,078.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 151,265 shares of company stock valued at $21,085,104. Insiders own 5.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Guardian Life Insurance Co. of America boosted its position in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after buying an additional 5 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after buying an additional 59 shares in the last quarter. Formidable Asset Management LLC bought a new position in shares of Intuit during the first quarter valued at about $208,000. First Financial Bank Trust Division bought a new position in shares of Intuit during the second quarter valued at about $226,000. Finally, Lincoln National Corp bought a new position in shares of Intuit during the first quarter valued at about $205,000. 85.23% of the stock is owned by hedge funds and other institutional investors.
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 ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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