Intuit Inc. (INTU) Issues FY14 Earnings Guidance
Intuit Inc. (NASDAQ:INTU) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.52-3.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.55, Stock Ratings Network.com reports. The company issued revenue guidance of $4.440-4.525 billion, compared to the consensus revenue estimate of $4.49 billion.
INTU has been the subject of a number of recent research reports. Analysts at BMO Capital Markets initiated coverage on shares of Intuit (NASDAQ:INTU) in a research note to investors on Wednesday, September 18th. They set a market perform rating on the stock. On a related note, analysts at Morgan Stanley downgraded shares of Intuit (NASDAQ:INTU) from an equal weight rating to an underweight rating in a research note to investors on Wednesday, September 18th. They now have a $62.00 price target on the stock. Finally, analysts at Evercore Partners raised their price target on shares of Intuit (NASDAQ:INTU) from $63.00 to $64.00 in a research note to investors on Wednesday, September 4th. They now have an equal weight rating on the stock.
Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $67.70.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 66.41 on Tuesday. Intuit Inc. has a 52 week low of $55.54 and a 52 week high of $68.41. The stock has a 50-day moving average of $64.65 and a 200-day moving average of $62.67. The company has a market cap of $18.775 billion and a P/E ratio of 23.42.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 20th. The company reported $0.00 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.03 by $0.03. The company had revenue of $634.00 million for the quarter, compared to the consensus estimate of $658.05 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Intuit Inc. will post $3.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, October 8th. This is an increase from Intuit’s previous quarterly dividend of $0.17.
In other Intuit news, SVP Laura Fennell sold 5,998 shares of the stock on the open market in a transaction dated Monday, September 16th. The shares were sold at an average price of $66.20, for a total value of $397,067.60. Following the transaction, the senior vice president now directly owns 8,849 shares of the company’s stock, valued at approximately $585,804. The sale was disclosed in a filing with the SEC, which is available at this link.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.
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