Intuit (INTU) Set to Announce Quarterly Earnings on Tuesday

Intuit (NASDAQ:INTU) is set to announce its earnings results after the market closes on Tuesday, November 28th. Analysts expect the company to announce earnings of $1.98 per share for the quarter. Intuit has set its Q1 guidance at $1.94-2.00 EPS and its FY24 guidance at $16.17-16.47 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 24th. The software maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.43 by $0.22. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. On average, analysts expect Intuit to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Intuit Trading Up 0.8 %

Intuit stock opened at $564.50 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $158.23 billion, a price-to-earnings ratio of 66.88, a price-to-earnings-growth ratio of 3.37 and a beta of 1.20. Intuit has a 1 year low of $370.62 and a 1 year high of $567.03. The firm’s 50 day moving average price is $521.31 and its two-hundred day moving average price is $490.03.

Wall Street Analyst Weigh In

Several research firms have weighed in on INTU. Oppenheimer lifted their price objective on shares of Intuit from $476.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, August 25th. Wells Fargo & Company lifted their target price on shares of Intuit from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Friday, September 29th. Jefferies Financial Group lifted their target price on shares of Intuit from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, August 14th. StockNews.com started coverage on shares of Intuit in a research note on Thursday, October 5th. They set a “buy” rating for the company. Finally, Bank of America lifted their target price on shares of Intuit from $530.00 to $580.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $567.41.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 2,307 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $523.58, for a total transaction of $1,207,899.06. Following the transaction, the executive vice president now directly owns 3,774 shares in the company, valued at approximately $1,975,990.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Alex G. Balazs sold 2,307 shares of Intuit stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $523.58, for a total transaction of $1,207,899.06. Following the completion of the sale, the executive vice president now owns 3,774 shares of the company’s stock, valued at approximately $1,975,990.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 10,732 shares of Intuit stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $531.01, for a total transaction of $5,698,799.32. Following the sale, the chief financial officer now directly owns 235 shares of the company’s stock, valued at approximately $124,787.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,073 shares of company stock worth $22,091,651. Insiders own 3.18% of the company’s stock.

Institutional Trading of Intuit

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fairfield Bush & CO. increased its position in Intuit by 39.6% during the 1st quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after purchasing an additional 1,035 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Intuit by 10.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after buying an additional 48,196 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Intuit by 8.4% during the 1st quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock valued at $1,552,000 after buying an additional 249 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Intuit by 7.1% in the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock worth $25,825,000 after purchasing an additional 3,576 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Intuit by 6.6% in the 1st quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock worth $16,448,000 after purchasing an additional 2,127 shares in the last quarter. Hedge funds and other institutional investors own 82.63% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.