Wall Street analysts predict that Intuit (NASDAQ:INTU) will announce sales of $2.84 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Intuit’s earnings. The lowest sales estimate is $2.79 billion and the highest is $2.88 billion. Intuit reported sales of $2.54 billion during the same quarter last year, which would suggest a positive year over year growth rate of 11.8%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, May 22nd.
According to Zacks, analysts expect that Intuit will report full year sales of $5.78 billion for the current financial year, with estimates ranging from $5.72 billion to $5.82 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.33 billion per share, with estimates ranging from $6.23 billion to $6.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Intuit.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Intuit had a return on equity of 72.52% and a net margin of 17.48%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share.
Several analysts have recently commented on the company. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $213.00 price objective for the company in a research note on Monday. Barclays reissued a “hold” rating and issued a $190.00 price objective on shares of Intuit in a research note on Sunday. Bank of America increased their price objective on Intuit from $186.60 to $194.00 and gave the stock a “buy” rating in a research note on Tuesday, May 1st. UBS increased their price objective on Intuit from $177.00 to $187.00 and gave the stock a “neutral” rating in a research note on Thursday, April 26th. Finally, JPMorgan Chase increased their price objective on Intuit from $170.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, April 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Intuit currently has a consensus rating of “Hold” and an average price target of $178.72.
Shares of Intuit traded down $1.15, hitting $190.54, on Friday, Marketbeat reports. The company had a trading volume of 1,929,728 shares, compared to its average volume of 1,417,967. The company has a market cap of $48.80 billion, a PE ratio of 50.54, a price-to-earnings-growth ratio of 2.64 and a beta of 1.13. Intuit has a 1 year low of $127.39 and a 1 year high of $196.28. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.36.
In other Intuit news, Chairman Scott D. Cook sold 214,272 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $177.94, for a total transaction of $38,127,559.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henry Tayloe Stansbury sold 9,666 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $171.59, for a total value of $1,658,588.94. Following the transaction, the executive vice president now directly owns 6,242 shares of the company’s stock, valued at $1,071,064.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 849,809 shares of company stock valued at $147,885,200. 5.59% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Intuit by 3.0% during the fourth quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock valued at $2,669,740,000 after purchasing an additional 486,554 shares during the period. Geode Capital Management LLC lifted its position in shares of Intuit by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 3,020,966 shares of the software maker’s stock worth $475,804,000 after acquiring an additional 167,550 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of Intuit by 8.8% during the first quarter. OppenheimerFunds Inc. now owns 2,958,604 shares of the software maker’s stock worth $512,874,000 after acquiring an additional 239,143 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Intuit by 1.7% during the first quarter. Royal Bank of Canada now owns 2,887,262 shares of the software maker’s stock worth $500,508,000 after acquiring an additional 48,265 shares in the last quarter. Finally, Lindsell Train Ltd lifted its position in shares of Intuit by 2.8% during the first quarter. Lindsell Train Ltd now owns 2,458,200 shares of the software maker’s stock worth $426,129,000 after acquiring an additional 67,400 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.