$1.17 Billion in Sales Expected for Intuit Inc. (INTU) This Quarter

Wall Street analysts predict that Intuit Inc. (NASDAQ:INTU) will report $1.17 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Intuit’s earnings, with the highest sales estimate coming in at $1.17 billion and the lowest estimate coming in at $1.16 billion. Intuit posted sales of $1.02 billion during the same quarter last year, which suggests a positive year over year growth rate of 14.7%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Intuit will report full year sales of $1.17 billion for the current financial year, with estimates ranging from $5.69 billion to $5.74 billion. For the next year, analysts expect that the company will post sales of $6.24 billion per share, with estimates ranging from $6.09 billion to $6.33 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Intuit.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The business had revenue of $886.00 million for the quarter, compared to analyst estimates of $855.74 million. During the same period last year, the business posted $0.06 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis.

A number of equities research analysts recently commented on INTU shares. First Analysis upgraded shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective on the stock in a report on Wednesday, August 23rd. Credit Suisse Group restated an “outperform” rating and set a $155.00 price objective (up from $150.00) on shares of Intuit in a report on Wednesday, August 23rd. Deutsche Bank restated a “buy” rating and set a $150.00 price objective on shares of Intuit in a report on Wednesday, August 23rd. Bank of America restated a “buy” rating and set a $145.00 price objective on shares of Intuit in a report on Wednesday, August 23rd. Finally, Royal Bank of Canada restated a “hold” rating and set a $141.00 price objective on shares of Intuit in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $152.89.

Shares of Intuit (INTU) traded up $3.46 during trading hours on Friday, hitting $159.65. 2,215,232 shares of the company were exchanged, compared to its average volume of 1,527,073. Intuit has a fifty-two week low of $111.90 and a fifty-two week high of $159.77. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $40,814.52, a price-to-earnings ratio of 42.69, a price-to-earnings-growth ratio of 2.87 and a beta of 1.18.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Tuesday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 41.38%.

In related news, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $155.03, for a total transaction of $28,422,114.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brad D. Smith sold 110,496 shares of Intuit stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total transaction of $16,729,094.40. Following the sale, the chief executive officer now directly owns 399,246 shares of the company’s stock, valued at approximately $60,445,844.40. The disclosure for this sale can be found here. In the last three months, insiders sold 879,480 shares of company stock valued at $132,586,537. Insiders own 5.59% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its holdings in shares of Intuit by 1.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,098,518 shares of the software maker’s stock worth $156,143,000 after buying an additional 17,854 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Intuit during the 3rd quarter worth about $784,000. Coastline Trust Co bought a new stake in shares of Intuit during the 3rd quarter worth about $208,000. Americafirst Capital Management LLC bought a new stake in shares of Intuit during the 3rd quarter worth about $184,000. Finally, Cypress Capital Group boosted its holdings in Intuit by 4.4% in the 3rd quarter. Cypress Capital Group now owns 18,007 shares of the software maker’s stock valued at $2,560,000 after purchasing an additional 756 shares during the period. 86.28% of the stock is owned by institutional investors and hedge funds.

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About Intuit

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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