Wall Street brokerages forecast that Intuit Inc. (NASDAQ:INTU) will report sales of $849.97 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Intuit’s earnings, with the lowest sales estimate coming in at $843.00 million and the highest estimate coming in at $859.40 million. Intuit reported sales of $778.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.3%. The company is expected to announce its next quarterly earnings results on Thursday, November 16th.
According to Zacks, analysts expect that Intuit will report full-year sales of $849.97 million for the current fiscal year, with estimates ranging from $5.65 billion to $5.70 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.13 billion per share, with estimates ranging from $5.98 billion to $6.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Intuit.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company had revenue of $842 million during the quarter, compared to analyst estimates of $808.82 million. During the same period last year, the firm posted $0.08 EPS. Intuit’s revenue for the quarter was up 11.7% compared to the same quarter last year.
A number of research analysts recently issued reports on the company. CIBC boosted their price objective on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, May 26th. Jefferies Group LLC assumed coverage on Intuit in a research report on Thursday. They set a “buy” rating and a $157.00 price objective for the company. Deutsche Bank AG restated a “buy” rating and set a $150.00 price objective on shares of Intuit in a research report on Wednesday. Barclays PLC restated an “equal weight” rating on shares of Intuit in a research report on Sunday, May 28th. Finally, Bank of America Corporation restated a “buy” rating and set a $145.00 price objective on shares of Intuit in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $137.76.
Intuit (NASDAQ INTU) traded up 1.49% during trading on Friday, reaching $137.35. 1,530,029 shares of the company’s stock were exchanged. The stock has a market capitalization of $35.30 billion, a PE ratio of 36.92 and a beta of 1.15. The stock has a 50-day moving average of $135.60 and a 200-day moving average of $129.04. Intuit has a 52 week low of $103.22 and a 52 week high of $143.81.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is currently 36.56%.
In other news, Chairman Scott D. Cook sold 182,037 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $135.20, for a total value of $24,611,402.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Scott D. Cook sold 183,334 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $135.22, for a total value of $24,790,423.48. The disclosure for this sale can be found here. Insiders sold a total of 595,109 shares of company stock worth $81,061,248 in the last three months. Company insiders own 5.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors purchased a new stake in Intuit during the second quarter worth approximately $108,000. Shine Investment Advisory Services Inc. purchased a new stake in Intuit during the second quarter worth approximately $123,000. Guardian Life Insurance Co. of America increased its stake in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Intuit during the second quarter worth approximately $140,000. Finally, ETF Managers Group LLC purchased a new stake in Intuit during the second quarter worth approximately $140,000. 85.18% of the stock is currently owned by institutional investors.
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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 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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