Intuit Inc. (INTU) Issues FY17 Earnings Guidance
Intuit Inc. (NASDAQ:INTU) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.30-4.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.35. The company issued revenue guidance of $5.0-5.1 billion, compared to the consensus revenue estimate of $5.05 billion.Intuit also updated its Q1 guidance to $0.01-0.03 EPS.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 108.97 on Wednesday. The stock has a market capitalization of $28.11 billion, a P/E ratio of 29.51 and a beta of 1.05. Intuit Inc. has a one year low of $85.61 and a one year high of $116.97. The stock’s 50 day moving average price is $111.01 and its 200 day moving average price is $107.17.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The company earned $754 million during the quarter, compared to analysts’ expectations of $735.35 million. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. On average, analysts forecast that Intuit Inc. will post $4.35 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This is a boost from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.25%. Intuit’s payout ratio is 31.91%.
A number of equities research analysts recently commented on the company. Morgan Stanley cut Intuit from an equal weight rating to an underweight rating and decreased their price objective for the stock from $109.54 to $105.00 in a research note on Tuesday, September 13th. Oppenheimer Holdings Inc. lifted their price objective on Intuit from $113.00 to $116.00 and gave the stock an outperform rating in a research note on Thursday, August 25th. Deutsche Bank AG reaffirmed a buy rating and set a $125.00 price objective (down from $130.00) on shares of Intuit in a research note on Wednesday, August 24th. Brean Capital lifted their price objective on Intuit from $130.00 to $135.00 and gave the stock a buy rating in a research note on Wednesday, August 24th. Finally, RBC Capital Markets reaffirmed a hold rating and set a $108.00 price objective on shares of Intuit in a research note on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $194.34.
In related news, EVP Henry Tayloe Stansbury sold 2,787 shares of the company’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $103.86, for a total transaction of $289,457.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sasan K. Goodarzi sold 18,567 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $109.78, for a total value of $2,038,285.26. Following the sale, the executive vice president now owns 1,492 shares in the company, valued at approximately $163,791.76. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in INTU. Veritable L.P. raised its stake in Intuit by 0.4% in the second quarter. Veritable L.P. now owns 7,717 shares of the company’s stock valued at $861,000 after buying an additional 34 shares during the last quarter. Pacer Advisors Inc. raised its stake in Intuit by 1.9% in the second quarter. Pacer Advisors Inc. now owns 7,459 shares of the company’s stock valued at $833,000 after buying an additional 141 shares during the last quarter. Advantus Capital Management Inc raised its stake in Intuit by 0.6% in the second quarter. Advantus Capital Management Inc now owns 25,280 shares of the company’s stock valued at $2,822,000 after buying an additional 142 shares during the last quarter. Bessemer Group Inc. raised its stake in Intuit by 6.7% in the second quarter. Bessemer Group Inc. now owns 2,275 shares of the company’s stock valued at $254,000 after buying an additional 142 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its stake in Intuit by 1.2% in the second quarter. Commonwealth Bank of Australia now owns 16,149 shares of the company’s stock valued at $1,802,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.
Intuit Company Profile
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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