Zacks: Brokerages Anticipate Intuit Inc. (INTU) Will Announce Quarterly Sales of $808.33 Million
Brokerages expect Intuit Inc. (NASDAQ:INTU) to announce sales of $808.33 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Intuit’s earnings, with the highest sales estimate coming in at $815.00 million and the lowest estimate coming in at $804.86 million. Intuit reported sales of $754.00 million during the same quarter last year, which indicates a positive year over year growth rate of 7.2%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 22nd.
According to Zacks, analysts expect that Intuit will report full-year sales of $808.33 million for the current financial year, with estimates ranging from $5.09 billion to $5.15 billion. For the next financial year, analysts expect that the firm will report sales of $5.56 billion per share, with estimates ranging from $5.50 billion to $5.63 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Intuit.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the company posted $3.43 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis.
Several research firms recently issued reports on INTU. Citigroup Inc. cut shares of Intuit from a “buy” rating to a “neutral” rating and decreased their target price for the company from $148.00 to $141.00 in a research note on Monday, June 26th. Barclays PLC reiterated an “equal weight” rating on shares of Intuit in a research note on Sunday, May 28th. CIBC boosted their target price on shares of Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, May 26th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Monday, May 29th. Finally, Stifel Nicolaus boosted their target price on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, May 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $199.55.
In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis D. Powell sold 16,686 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $136.82, for a total transaction of $2,282,978.52. Following the completion of the sale, the director now owns 4,554 shares of the company’s stock, valued at $623,078.28. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock valued at $21,085,104 over the last quarter. Company insiders own 5.70% of the company’s stock.
Several large investors have recently modified their holdings of the stock. OLD National Bancorp IN acquired a new stake in shares of Intuit during the second quarter worth approximately $1,176,000. Eqis Capital Management Inc. boosted its stake in shares of Intuit by 5.6% in the second quarter. Eqis Capital Management Inc. now owns 3,164 shares of the software maker’s stock worth $420,000 after buying an additional 169 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Intuit by 518.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 40,202 shares of the software maker’s stock worth $5,339,000 after buying an additional 33,699 shares during the period. National Pension Service boosted its stake in shares of Intuit by 10.1% in the second quarter. National Pension Service now owns 220,710 shares of the software maker’s stock worth $29,377,000 after buying an additional 20,240 shares during the period. Finally, Cullinan Associates Inc. boosted its stake in shares of Intuit by 26.1% in the second quarter. Cullinan Associates Inc. now owns 20,505 shares of the software maker’s stock worth $2,723,000 after buying an additional 4,240 shares during the period. Institutional investors and hedge funds own 85.24% of the company’s stock.
Shares of Intuit (NASDAQ INTU) opened at 132.88 on Friday. The stock has a market cap of $34.05 billion, a PE ratio of 38.18 and a beta of 1.14. The company has a 50-day moving average of $136.36 and a 200 day moving average of $123.95. Intuit has a one year low of $103.22 and a one year high of $143.81.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, July 6th. Intuit’s dividend payout ratio (DPR) is 39.19%.
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 ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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