Intuit Inc. (INTU) Expected to Post Quarterly Sales of $1.17 Billion

Wall Street analysts predict that Intuit Inc. (NASDAQ:INTU) will post sales of $1.17 billion for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Intuit’s earnings. The highest sales estimate is $1.17 billion and the lowest is $1.16 billion. Intuit posted sales of $1.02 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 14.7%. The business is scheduled to report its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Intuit will report full year sales of $1.17 billion for the current financial year, with estimates ranging from $5.69 billion to $5.74 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.24 billion per share, with estimates ranging from $6.09 billion to $6.33 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Intuit.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million during the quarter, compared to analyst estimates of $855.74 million. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis.

INTU has been the subject of several research reports. UBS Group initiated coverage on shares of Intuit in a research report on Thursday, November 9th. They set a “neutral” rating and a $152.00 price objective for the company. Barclays raised their price objective on shares of Intuit from $135.00 to $157.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 15th. Oppenheimer raised their price objective on shares of Intuit from $146.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research lowered shares of Intuit from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. Finally, Stifel Nicolaus restated a “hold” rating and set a $132.00 price objective on shares of Intuit in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $153.89.

Intuit (INTU) opened at $157.78 on Tuesday. Intuit has a 12-month low of $111.90 and a 12-month high of $161.44. 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 has a market cap of $40,540.00, a PE ratio of 41.74, a PEG ratio of 2.84 and a beta of 1.18.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, January 9th. Intuit’s payout ratio is 41.27%.

In related news, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $151.46, for a total transaction of $27,767,767.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $151.35, for a total transaction of $326,613.30. Following the sale, the executive vice president now owns 3,050 shares of the company’s stock, valued at $461,617.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 965,938 shares of company stock valued at $149,469,127. Corporate insiders own 5.59% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Intuit by 2.7% during the second quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after purchasing an additional 444,676 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in shares of Intuit by 7.8% during the second quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after purchasing an additional 347,159 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Intuit by 612.6% during the second quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock worth $345,589,000 after purchasing an additional 2,236,974 shares during the period. Royal Bank of Canada boosted its holdings in shares of Intuit by 19.0% during the second quarter. Royal Bank of Canada now owns 2,508,267 shares of the software maker’s stock worth $333,124,000 after purchasing an additional 400,406 shares during the period. Finally, Lindsell Train Ltd boosted its holdings in shares of Intuit by 7.3% during the third quarter. Lindsell Train Ltd now owns 2,369,800 shares of the software maker’s stock worth $336,843,000 after purchasing an additional 162,000 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

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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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