Zacks: Brokerages Expect Intuit Inc. (INTU) Will Post Quarterly Sales of $1.17 Billion
Wall Street analysts forecast that Intuit Inc. (NASDAQ:INTU) will report $1.17 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Intuit’s earnings, with the highest sales estimate coming in at $1.17 billion and the lowest estimate coming in at $1.16 billion. Intuit posted sales of $1.02 billion during the same quarter last year, which would indicate a positive year over year growth rate of 14.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Intuit will report full year sales of $1.17 billion for the current fiscal year, with estimates ranging from $5.69 billion to $5.74 billion. For the next financial year, analysts expect that the business will post sales of $6.24 billion per share, with estimates ranging from $6.09 billion to $6.33 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Intuit.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.30. The business had revenue of $886.00 million during the quarter, compared to analysts’ expectations of $855.74 million. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS.
In other Intuit news, Chairman Scott D. Cook sold 112,731 shares of Intuit stock in a transaction on Monday, December 18th. The shares were sold at an average price of $160.97, for a total value of $18,146,309.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mark J. Flournoy sold 13,424 shares of Intuit stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $155.56, for a total transaction of $2,088,237.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 965,938 shares of company stock worth $149,469,127. 5.59% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of INTU. Exane Derivatives acquired a new position in shares of Intuit during the third quarter worth about $105,000. Horan Capital Advisors LLC. acquired a new position in shares of Intuit during the third quarter worth about $114,000. ETF Managers Group LLC acquired a new position in shares of Intuit during the second quarter worth about $140,000. Highstreet Asset Management Inc. acquired a new position in shares of Intuit during the third quarter worth about $159,000. Finally, BB&T Investment Services Inc. acquired a new position in shares of Intuit during the second quarter worth about $160,000. Institutional investors own 86.03% of the company’s stock.
Shares of Intuit (NASDAQ INTU) opened at $164.40 on Friday. The stock has a market cap of $42,030.00, a price-to-earnings ratio of 43.49, a PEG ratio of 2.96 and a beta of 1.18. Intuit has a 1 year low of $111.90 and a 1 year high of $166.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were paid a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a yield of 0.95%. Intuit’s dividend payout ratio is presently 41.27%.
ILLEGAL ACTIVITY WARNING: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/19/zacks-brokerages-expect-intuit-inc-intu-will-post-quarterly-sales-of-1-17-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.