Intuit Inc. (NASDAQ:INTU) Expected to Post Quarterly Sales of $2.35 Billion

Brokerages expect Intuit Inc. (NASDAQ:INTUGet Rating) to report sales of $2.35 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Intuit’s earnings, with estimates ranging from $2.34 billion to $2.36 billion. Intuit posted sales of $2.56 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 8.2%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Intuit will report full-year sales of $12.26 billion for the current year, with estimates ranging from $12.23 billion to $12.30 billion. For the next financial year, analysts forecast that the company will report sales of $14.07 billion, with estimates ranging from $13.77 billion to $14.76 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Intuit.

Intuit (NASDAQ:INTUGet Rating) last announced its quarterly earnings data on Tuesday, May 24th. The software maker reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.07. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business posted $5.45 EPS. The business’s revenue was up 35.0% compared to the same quarter last year.

Several analysts have recently issued reports on INTU shares. Barclays reduced their target price on Intuit from $585.00 to $480.00 and set an “overweight” rating on the stock in a report on Friday, May 20th. KeyCorp dropped their price objective on Intuit from $600.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Intuit in a research report on Wednesday. Credit Suisse Group dropped their price objective on Intuit from $600.00 to $500.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on Intuit from $750.00 to $640.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $554.40.

Shares of Intuit stock opened at $406.42 on Friday. Intuit has a 12-month low of $339.36 and a 12-month high of $716.86. The stock has a market cap of $114.94 billion, a P/E ratio of 51.84, a P/E/G ratio of 2.89 and a beta of 1.16. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $435.66 and its 200-day moving average is $525.02.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 18th. Shareholders of record on Monday, July 11th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, July 8th. This represents a $2.72 dividend on an annualized basis and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 34.69%.

In other news, EVP James Alexander Chriss sold 368 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $478.84, for a total value of $176,213.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 59,286 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total value of $28,162,628.58. The disclosure for this sale can be found here. Company insiders own 3.27% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. JNBA Financial Advisors bought a new stake in shares of Intuit in the fourth quarter valued at $25,000. Castleview Partners LLC bought a new stake in shares of Intuit in the fourth quarter valued at $25,000. Mascoma Wealth Management LLC raised its stake in shares of Intuit by 3,900.0% in the fourth quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock valued at $26,000 after buying an additional 39 shares during the period. Industrial Alliance Investment Management Inc. bought a new stake in shares of Intuit in the fourth quarter valued at $26,000. Finally, San Luis Wealth Advisors LLC bought a new stake in shares of Intuit in the first quarter valued at $26,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Intuit Company Profile (Get Rating)

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProConnect.

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