Intuit Inc. (INTU) Expected to Announce Earnings of $4.61 Per Share

Wall Street brokerages expect Intuit Inc. (NASDAQ:INTU) to announce $4.61 earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for Intuit’s earnings, with the lowest EPS estimate coming in at $4.57 and the highest estimate coming in at $4.70. Intuit reported earnings of $3.90 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 18.2%. The business is expected to announce its next quarterly earnings report on Tuesday, May 22nd.

On average, analysts expect that Intuit will report full-year earnings of $5.35 per share for the current year, with EPS estimates ranging from $5.28 to $5.39. For the next financial year, analysts forecast that the firm will report earnings of $6.37 per share, with EPS estimates ranging from $6.14 to $6.70. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Intuit.

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Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Intuit had a return on equity of 72.52% and a net margin of 17.48%. Intuit’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share.

A number of brokerages recently issued reports on INTU. Credit Suisse Group boosted their price target on Intuit from $185.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, March 12th. UBS reiterated a “neutral” rating and issued a $177.00 price target (up previously from $170.00) on shares of Intuit in a report on Friday, February 23rd. Barclays boosted their price target on Intuit from $157.00 to $168.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Royal Bank of Canada reiterated a “hold” rating and issued a $182.00 price target on shares of Intuit in a report on Friday, February 23rd. Finally, Argus boosted their price target on Intuit from $175.00 to $195.00 and gave the company a “buy” rating in a report on Monday, February 26th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $167.05.

Shares of NASDAQ INTU traded up $2.42 during trading hours on Monday, reaching $173.35. The stock had a trading volume of 1,243,973 shares, compared to its average volume of 1,516,770. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $44,396.86, a price-to-earnings ratio of 45.98, a PEG ratio of 2.64 and a beta of 1.15. Intuit has a 52-week low of $114.80 and a 52-week high of $179.30.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Tuesday, April 10th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, April 9th. Intuit’s dividend payout ratio (DPR) is 41.38%.

In other news, Chairman Scott D. Cook sold 159,556 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $170.26, for a total transaction of $27,166,004.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Scott D. Cook sold 214,272 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $177.94, for a total value of $38,127,559.68. The disclosure for this sale can be found here. Insiders sold 849,809 shares of company stock valued at $147,885,200 in the last three months. 5.59% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Intuit during the fourth quarter worth $158,000. SeaCrest Wealth Management LLC acquired a new position in shares of Intuit during the fourth quarter worth $170,000. Lake Street Advisors Group LLC acquired a new position in shares of Intuit during the fourth quarter worth $200,000. Trellis Advisors LLC acquired a new position in shares of Intuit during the fourth quarter worth $201,000. Finally, Americafirst Capital Management LLC acquired a new position in shares of Intuit during the third quarter worth $184,000. 87.14% of the stock is currently owned by institutional investors and hedge funds.

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About Intuit

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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