Intuit (NASDAQ:INTU) Updates Q1 2022 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its first quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.940-$0.990 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.140. The company issued revenue guidance of $1.80 billion-$1.83 billion, compared to the consensus revenue estimate of $1.77 billion.Intuit also updated its FY 2022 guidance to $11.050-$11.250 EPS.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Intuit from $490.00 to $525.00 and gave the company an outperform rating in a research note on Wednesday, May 26th. Mizuho increased their price objective on shares of Intuit from $550.00 to $640.00 and gave the company a buy rating in a research note on Wednesday, August 25th. Morgan Stanley increased their price objective on shares of Intuit from $511.00 to $615.00 and gave the company an overweight rating in a research note on Wednesday, August 25th. Zacks Investment Research downgraded shares of Intuit from a hold rating to a strong sell rating and set a $481.00 price objective on the stock. in a research note on Monday, August 30th. Finally, KeyCorp increased their price objective on shares of Intuit from $475.00 to $625.00 and gave the company an overweight rating in a research note on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $544.55.

Shares of NASDAQ:INTU traded down $0.33 during midday trading on Wednesday, reaching $567.94. The company’s stock had a trading volume of 3,576 shares, compared to its average volume of 1,246,041. The firm has a market capitalization of $155.10 billion, a PE ratio of 75.68, a P/E/G ratio of 4.82 and a beta of 1.03. Intuit has a twelve month low of $295.37 and a twelve month high of $582.96. The stock has a fifty day moving average of $536.66 and a 200 day moving average of $463.54. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Monday, August 23rd. The software maker reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.38. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.32 billion. Intuit had a net margin of 21.41% and a return on equity of 24.31%. The firm’s revenue was up 41.0% on a year-over-year basis. During the same quarter last year, the business earned $1.81 earnings per share. Sell-side analysts anticipate that Intuit will post 7.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 18th. Investors of record on Monday, October 11th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Friday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $0.59. Intuit’s dividend payout ratio (DPR) is currently 31.22%.

In other news, Director Raul Vazquez sold 1,100 shares of Intuit stock in a transaction dated Friday, June 25th. The shares were sold at an average price of $483.08, for a total value of $531,388.00. Following the sale, the director now owns 1,589 shares in the company, valued at $767,614.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark J. Flournoy sold 665 shares of Intuit stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $475.27, for a total transaction of $316,054.55. Following the completion of the sale, the chief accounting officer now owns 1,520 shares in the company, valued at approximately $722,410.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,112 shares of company stock worth $34,124,588. 3.38% of the stock is owned by company insiders.

About Intuit

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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