$4.62 Billion in Sales Expected for Intuit Inc. (NASDAQ:INTU) This Quarter

Brokerages expect Intuit Inc. (NASDAQ:INTU) to report sales of $4.62 billion for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Intuit’s earnings, with estimates ranging from $4.61 billion to $4.63 billion. Intuit posted sales of $3.00 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 54%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, May 25th.

On average, analysts expect that Intuit will report full-year sales of $8.95 billion for the current year, with estimates ranging from $8.89 billion to $9.06 billion. For the next financial year, analysts forecast that the company will report sales of $10.34 billion, with estimates ranging from $10.18 billion to $10.71 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Intuit.

Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, February 23rd. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.55. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Intuit had a net margin of 25.10% and a return on equity of 40.29%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share.

Several research analysts have recently weighed in on INTU shares. Wolfe Research started coverage on shares of Intuit in a report on Wednesday, April 28th. They set an “outperform” rating and a $475.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Intuit in a report on Friday, January 22nd. They set a “neutral” rating and a $430.00 price objective for the company. KeyCorp boosted their price objective on shares of Intuit from $400.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, February 2nd. Stifel Nicolaus boosted their price objective on shares of Intuit from $400.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, March 2nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $460.00 target price on shares of Intuit in a research report on Monday, March 22nd. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $431.65.

Shares of INTU traded down $13.72 during mid-day trading on Tuesday, hitting $397.62. 1,210,342 shares of the company traded hands, compared to its average volume of 1,357,685. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.09 and a current ratio of 3.09. The stock has a 50-day moving average price of $400.43 and a two-hundred day moving average price of $377.24. Intuit has a 1 year low of $269.54 and a 1 year high of $423.74. The stock has a market cap of $108.88 billion, a price-to-earnings ratio of 53.37, a P/E/G ratio of 4.29 and a beta of 0.99.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 19th. Investors of record on Monday, April 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, April 9th. Intuit’s payout ratio is 35.98%.

In other news, CFO Michelle M. Clatterbuck sold 2,253 shares of the stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $403.51, for a total value of $909,108.03. Following the sale, the chief financial officer now owns 4,293 shares of the company’s stock, valued at $1,732,268.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Alexander Chriss sold 364 shares of the stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $407.38, for a total transaction of $148,286.32. Following the completion of the sale, the executive vice president now directly owns 221 shares in the company, valued at approximately $90,030.98. The disclosure for this sale can be found here. 3.38% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. MUFG Americas Holdings Corp raised its stake in shares of Intuit by 1,600.0% in the fourth quarter. MUFG Americas Holdings Corp now owns 68 shares of the software maker’s stock valued at $26,000 after acquiring an additional 64 shares during the period. Clearview Wealth Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth about $29,000. TRU Independence Asset Management 2 LLC bought a new position in shares of Intuit in the fourth quarter worth about $29,000. Encompass Wealth Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth about $29,000. Finally, Concord Wealth Partners bought a new position in shares of Intuit in the fourth quarter worth about $37,000. 84.79% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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