Intuit (NASDAQ:INTU) Issues Q3 2021 Earnings Guidance

Intuit (NASDAQ:INTU) updated its third quarter 2021 earnings guidance on Tuesday. The company provided EPS guidance of $6.000-6.050 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.730. The company issued revenue guidance of $4.17 billion-4.17 billion, compared to the consensus revenue estimate of $4.59 billion.Intuit also updated its FY 2021 guidance to $9.320-9.370 EPS.

Shares of Intuit stock traded up $1.66 during trading hours on Friday, reaching $472.99. 2,709 shares of the company were exchanged, compared to its average volume of 1,350,777. Intuit has a 1 year low of $274.19 and a 1 year high of $473.71. The firm has a fifty day moving average of $420.95. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $129.25 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 4.25 and a beta of 1.00.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Monday, May 24th. The software maker reported $6.07 earnings per share for the quarter, missing analysts’ consensus estimates of $6.19 by ($0.12). Intuit had a return on equity of 28.76% and a net margin of 23.93%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the company posted $4.49 EPS. The firm’s revenue was up 39.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuit will post 7.26 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 19th. Stockholders of record on Monday, July 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Friday, July 9th. Intuit’s dividend payout ratio is currently 35.98%.

A number of analysts have recently weighed in on INTU shares. William Blair reaffirmed an outperform rating on shares of Intuit in a research report on Wednesday, May 12th. Mizuho boosted their target price on shares of Intuit from $450.00 to $500.00 and gave the stock a buy rating in a research note on Wednesday, May 26th. Bank of America reiterated a buy rating and set a $460.00 target price on shares of Intuit in a research note on Wednesday, April 14th. Guggenheim reiterated a buy rating on shares of Intuit in a research note on Monday, May 24th. Finally, Barclays boosted their target price on shares of Intuit from $482.00 to $540.00 and gave the stock an overweight rating in a research note on Wednesday, May 26th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $465.71.

In other news, CFO Michelle M. Clatterbuck sold 414 shares of the stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $436.21, for a total transaction of $180,590.94. Following the completion of the sale, the chief financial officer now owns 546 shares in the company, valued at $238,170.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Brad D. Smith sold 163,061 shares of the stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $431.50, for a total transaction of $70,360,821.50. Following the sale, the chairman now owns 517,568 shares of the company’s stock, valued at approximately $223,330,592. The disclosure for this sale can be found here. Insiders have sold 168,912 shares of company stock valued at $72,890,386 in the last quarter. Insiders own 3.38% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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