Brokerages predict that Intuit Inc. (NASDAQ:INTU) will announce sales of $808.33 million for the current quarter, Zacks reports. Four analysts have issued estimates for Intuit’s earnings, with the highest sales estimate coming in at $815.00 million and the lowest estimate coming in at $804.86 million. Intuit posted sales of $754.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.2%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, August 22nd.
On average, analysts expect that Intuit will report full year sales of $808.33 million for the current fiscal year, with estimates ranging from $5.14 billion to $5.15 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.56 billion per share, with estimates ranging from $5.50 billion to $5.63 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Intuit.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $3.43 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis.
A number of research analysts have weighed in on INTU shares. BidaskClub cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Barclays PLC reaffirmed a “hold” rating and set a $130.00 price target on shares of Intuit in a research report on Friday, April 28th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $141.00 price target (up from $125.00) on shares of Intuit in a research report on Thursday, May 25th. Benchmark Co. started coverage on shares of Intuit in a research report on Thursday, April 27th. They set a “buy” rating and a $140.00 price target on the stock. Finally, Zacks Investment Research raised shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Monday, May 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $135.63.
In related news, Director Dennis D. Powell sold 16,686 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $136.82, for a total value of $2,282,978.52. Following the completion of the sale, the director now owns 4,554 shares of the company’s stock, valued at $623,078.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total transaction of $2,203,602.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,265 shares of company stock valued at $21,085,104. Corporate insiders own 5.70% of the company’s stock.
A number of large investors have recently bought and sold shares of INTU. BlackRock Inc. increased its stake in Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock valued at $2,014,036,000 after buying an additional 16,306,976 shares during the last quarter. Morgan Stanley boosted its stake in shares of Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock valued at $403,505,000 after buying an additional 966,936 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Intuit by 249.1% in the first quarter. Renaissance Technologies LLC now owns 1,296,148 shares of the software maker’s stock valued at $150,340,000 after buying an additional 924,900 shares during the period. Harbour Capital Advisors LLC boosted its stake in shares of Intuit by 21,749.4% in the second quarter. Harbour Capital Advisors LLC now owns 887,304 shares of the software maker’s stock valued at $6,681,000 after buying an additional 883,243 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of Intuit during the first quarter valued at approximately $99,589,000. 85.57% of the stock is owned by institutional investors and hedge funds.
Shares of Intuit (NASDAQ:INTU) opened at 136.65 on Tuesday. The stock has a market capitalization of $35.01 billion, a P/E ratio of 39.27 and a beta of 1.15. Intuit has a 52 week low of $103.22 and a 52 week high of $143.81. The company’s 50-day moving average is $135.86 and its 200 day moving average is $126.82.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, July 6th. Intuit’s dividend payout ratio (DPR) is 39.19%.
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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