Intuit Inc. (INTU) Releases Q1 Earnings Guidance
Intuit Inc. (NASDAQ:INTU) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.01-0.03 for the period, compared to the Thomson Reuters consensus estimate of $0.03. The company issued revenue guidance of $740-760 million, compared to the consensus revenue estimate of $754.56 million.Intuit also updated its FY17 guidance to $4.30-4.40 EPS.
Intuit Inc. (NASDAQ:INTU) opened at 108.97 on Wednesday. Intuit Inc. has a 12 month low of $85.61 and a 12 month high of $116.97. The company has a market cap of $28.11 billion, a P/E ratio of 29.51 and a beta of 1.05. The company’s 50-day moving average is $111.01 and its 200-day moving average is $107.17.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.10. The company had revenue of $754 million for the quarter, compared to the consensus estimate of $735.35 million. Intuit had a net margin of 20.86% and a return on equity of 80.75%. Intuit’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, equities research analysts expect that Intuit Inc. will post $4.35 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, October 5th. This is an increase from Intuit’s previous quarterly dividend of $0.30. Intuit’s payout ratio is currently 31.91%.
Several analysts have weighed in on the stock. Morgan Stanley downgraded shares of Intuit from an equal weight rating to an underweight rating and dropped their target price for the stock from $109.54 to $105.00 in a research report on Tuesday, September 13th. Oppenheimer Holdings Inc. upped their price objective on shares of Intuit from $113.00 to $116.00 and gave the company an outperform rating in a report on Thursday, August 25th. Deutsche Bank AG reaffirmed a buy rating and issued a $125.00 price objective (down from $130.00) on shares of Intuit in a report on Wednesday, August 24th. Brean Capital upped their price objective on shares of Intuit from $130.00 to $135.00 and gave the company a buy rating in a report on Wednesday, August 24th. Finally, RBC Capital Markets reaffirmed a hold rating and issued a $108.00 price objective on shares of Intuit in a report on Wednesday, August 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Intuit has an average rating of Buy and a consensus target price of $194.34.
In other news, EVP Sasan K. Goodarzi sold 7,350 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $110.00, for a total value of $808,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henry Tayloe Stansbury sold 2,787 shares of the stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $103.86, for a total transaction of $289,457.82. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
Several large investors have recently modified their holdings of INTU. Johnson Financial Group Inc. boosted its stake in shares of Intuit by 563.9% in the second quarter. Johnson Financial Group Inc. now owns 1,029 shares of the company’s stock worth $115,000 after buying an additional 874 shares during the period. Point72 Asia Hong Kong Ltd boosted its stake in shares of Intuit by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock worth $123,000 after buying an additional 900 shares during the period. Bridgeway Capital Management Inc. acquired a new stake in shares of Intuit during the second quarter worth approximately $212,000. Bessemer Group Inc. boosted its stake in shares of Intuit by 6.7% in the second quarter. Bessemer Group Inc. now owns 2,275 shares of the company’s stock worth $254,000 after buying an additional 142 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in shares of Intuit by 23.1% in the second quarter. 1832 Asset Management L.P. now owns 2,523 shares of the company’s stock worth $283,000 after buying an additional 473 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.
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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