Wall Street brokerages expect Intuit Inc. (NASDAQ:INTU) to post $1.20 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Intuit's earnings, with estimates ranging from $1.20 billion to $1.21 billion. Intuit reported sales of $1.17 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The company is scheduled to announce its next earnings report on Thursday, November 19th.
According to Zacks, analysts expect that Intuit will report full-year sales of $8.25 billion for the current year, with estimates ranging from $8.12 billion to $8.47 billion. For the next financial year, analysts forecast that the business will post sales of $9.18 billion, with estimates ranging from $8.93 billion to $9.70 billion. Zacks Investment Research's sales averages are an average based on a survey of analysts that that provide coverage for Intuit.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 25th. The software maker reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.95. Intuit had a net margin of 23.78% and a return on equity of 40.79%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted ($0.09) EPS. The firm's revenue for the quarter was up 81.1% on a year-over-year basis.
Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their price target on shares of Intuit from $340.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, August 26th. Argus boosted their price target on shares of Intuit from $325.00 to $400.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Guggenheim boosted their price target on shares of Intuit from $320.00 to $395.00 and gave the company a "buy" rating in a report on Wednesday, August 26th. Morgan Stanley upgraded shares of Intuit from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $315.00 to $400.00 in a report on Monday, October 5th. Finally, BidaskClub downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of "Buy" and a consensus target price of $360.94.
NASDAQ:INTU opened at $334.42 on Friday. Intuit has a one year low of $187.68 and a one year high of $360.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.26 and a current ratio of 2.26. The firm has a market cap of $87.55 billion, a P/E ratio of 48.33, a P/E/G ratio of 3.25 and a beta of 0.99. The firm has a 50-day simple moving average of $326.27 and a 200-day simple moving average of $299.10.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 19th. Stockholders of record on Monday, October 12th were issued a dividend of $0.59 per share. This is a positive change from Intuit's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Intuit's dividend payout ratio is presently 35.98%.
In related news, EVP Laura A. Fennell sold 29,204 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $320.34, for a total value of $9,355,209.36. Following the completion of the sale, the executive vice president now owns 95,313 shares of the company's stock, valued at $30,532,566.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sasan K. Goodarzi sold 161,258 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $345.66, for a total transaction of $55,740,440.28. Following the completion of the sale, the chief executive officer now directly owns 154,306 shares of the company's stock, valued at approximately $53,337,411.96. The disclosure for this sale can be found here. Insiders have sold 244,742 shares of company stock valued at $83,471,109 in the last ninety days. Insiders own 4.09% of the company's stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Intuit by 4.1% in the second quarter. BlackRock Inc. now owns 23,085,334 shares of the software maker's stock valued at $6,837,643,000 after purchasing an additional 916,632 shares during the period. Bank of New York Mellon Corp boosted its stake in Intuit by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 2,974,425 shares of the software maker's stock worth $880,994,000 after buying an additional 178,720 shares during the period. Bank of America Corp DE boosted its stake in Intuit by 2.6% during the second quarter. Bank of America Corp DE now owns 2,631,783 shares of the software maker's stock worth $779,509,000 after buying an additional 66,772 shares during the period. Winslow Capital Management LLC boosted its stake in Intuit by 1.3% during the second quarter. Winslow Capital Management LLC now owns 1,780,182 shares of the software maker's stock worth $527,271,000 after buying an additional 22,646 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Intuit by 30.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,752,372 shares of the software maker's stock worth $518,148,000 after buying an additional 412,257 shares during the period. 85.52% of the stock is owned by hedge funds and other institutional investors.
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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