Intuit (NASDAQ:INTU) Releases FY 2022 Earnings Guidance

Intuit (NASDAQ:INTU) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.050-$11.250 for the period, compared to the Thomson Reuters consensus estimate of $10.830. The company issued revenue guidance of $11.05 billion-$11.20 billion, compared to the consensus revenue estimate of $10.94 billion.Intuit also updated its Q1 2022 guidance to $0.940-$0.990 EPS.

NASDAQ:INTU traded down $0.33 during mid-day trading on Wednesday, hitting $567.94. The company had a trading volume of 3,576 shares, compared to its average volume of 1,246,041. Intuit has a fifty-two week low of $295.37 and a fifty-two week high of $582.96. The business’s fifty day moving average is $536.66 and its two-hundred day moving average is $463.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.94 and a current ratio of 1.94. The firm has a market cap of $155.10 billion, a P/E ratio of 75.68, a P/E/G ratio of 4.82 and a beta of 1.03.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, October 18th. Shareholders of record on Monday, October 11th will be paid a $0.68 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, October 8th. This represents a $2.72 annualized dividend and a yield of 0.48%. Intuit’s dividend payout ratio is presently 31.22%.

INTU has been the topic of several analyst reports. KeyCorp increased their target price on Intuit from $475.00 to $625.00 and gave the company an overweight rating in a research note on Thursday, August 26th. Bank of America increased their price target on Intuit from $520.00 to $640.00 and gave the stock a buy rating in a report on Wednesday, August 25th. Morgan Stanley increased their price target on Intuit from $511.00 to $615.00 and gave the stock an overweight rating in a report on Wednesday, August 25th. Barclays increased their price target on Intuit from $540.00 to $645.00 and gave the stock an overweight rating in a report on Monday, August 23rd. Finally, Royal Bank of Canada increased their price target on Intuit from $490.00 to $525.00 and gave the stock an outperform rating in a report on Wednesday, May 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit currently has a consensus rating of Buy and an average target price of $544.55.

In other news, EVP James Alexander Chriss sold 2,022 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $562.53, for a total value of $1,137,435.66. Following the completion of the sale, the executive vice president now directly owns 3,234 shares of the company’s stock, valued at $1,819,222.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gregory N. Johnson sold 14,843 shares of the firm’s stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $552.43, for a total value of $8,199,718.49. Following the completion of the sale, the executive vice president now directly owns 1,520 shares of the company’s stock, valued at $839,693.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,112 shares of company stock valued at $34,124,588. Corporate insiders own 3.38% of the company’s stock.

Intuit Company Profile

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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