$853.39 Million in Sales Expected for Intuit Inc. (INTU) This Quarter
Analysts expect Intuit Inc. (NASDAQ:INTU) to post $853.39 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Intuit’s earnings. The lowest sales estimate is $843.00 million and the highest is $861.30 million. Intuit posted sales of $778.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.7%. The business is expected to announce its next earnings report on Thursday, November 16th.
On average, analysts expect that Intuit will report full year sales of $853.39 million for the current year, with estimates ranging from $5.65 billion to $5.74 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.19 billion per share, with estimates ranging from $5.98 billion to $6.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Intuit.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. During the same period in the previous year, the company posted $0.08 EPS. Intuit’s revenue was up 11.7% on a year-over-year basis.
INTU has been the subject of a number of analyst reports. Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and decreased their target price for the company from $148.00 to $141.00 in a research report on Monday, June 26th. BidaskClub downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price for the company in a research report on Wednesday, August 23rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $155.00 target price (up previously from $150.00) on shares of Intuit in a research report on Wednesday, August 23rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $150.00 target price on shares of Intuit in a research report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $142.74.
Intuit (INTU) opened at 147.97 on Friday. The stock has a market capitalization of $37.73 billion, a PE ratio of 39.78 and a beta of 1.15. Intuit has a 12-month low of $103.22 and a 12-month high of $148.42. The stock’s 50 day moving average is $143.68 and its 200 day moving average is $135.12.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th were paid a $0.39 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, October 6th. This represents a $1.56 annualized dividend and a yield of 1.05%. Intuit’s payout ratio is 41.94%.
In other Intuit news, EVP Henry Tayloe Stansbury sold 1,783 shares of Intuit stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total value of $257,108.60. Following the completion of the sale, the executive vice president now owns 2,675 shares in the company, valued at approximately $385,735. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO R Neil Williams sold 184,585 shares of Intuit stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total transaction of $26,046,789.35. Following the completion of the sale, the chief financial officer now owns 64,620 shares of the company’s stock, valued at approximately $9,118,528.20. The disclosure for this sale can be found here. Insiders sold a total of 1,084,194 shares of company stock valued at $151,162,540 in the last quarter. Corporate insiders own 5.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in Intuit by 1,542.9% in the 1st quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after purchasing an additional 16,306,976 shares in the last quarter. Vanguard Group Inc. raised its stake in Intuit by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after purchasing an additional 444,676 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Intuit by 7.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after purchasing an additional 347,159 shares in the last quarter. Morgan Stanley raised its stake in Intuit by 38.5% in the 1st quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after purchasing an additional 966,936 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in Intuit by 5.4% in the 1st quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after purchasing an additional 138,184 shares in the last quarter. Institutional investors and hedge funds own 85.97% of the company’s stock.
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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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