Intuit Inc. (INTU) Expected to Announce Earnings of $5.38 Per Share

Wall Street analysts expect Intuit Inc. (NASDAQ:INTU) to post $5.38 earnings per share for the current quarter, according to Zacks. Seven analysts have made estimates for Intuit’s earnings. The highest EPS estimate is $5.43 and the lowest is $5.36. Intuit posted earnings of $4.82 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.6%. The firm is scheduled to issue its next earnings report on Tuesday, May 28th.

According to Zacks, analysts expect that Intuit will report full year earnings of $6.54 per share for the current fiscal year, with EPS estimates ranging from $6.48 to $6.67. For the next financial year, analysts expect that the firm will post earnings of $7.42 per share, with EPS estimates ranging from $7.09 to $8.00. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Intuit.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 21st. The software maker reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.44. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. During the same period in the previous year, the firm posted $0.35 earnings per share.

INTU has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Intuit to $234.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 20th. Bank of America reaffirmed a “buy” rating and set a $264.00 price objective (up from $252.00) on shares of Intuit in a report on Wednesday, March 6th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $212.00 price objective on shares of Intuit in a report on Friday, February 1st. ValuEngine raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. Finally, KeyCorp initiated coverage on shares of Intuit in a report on Tuesday, December 18th. They set an “overweight” rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $230.11.

INTU stock traded up $1.36 during trading hours on Friday, hitting $258.13. The company’s stock had a trading volume of 3,463,001 shares, compared to its average volume of 1,561,254. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $64.85 billion, a price-to-earnings ratio of 56.98, a P/E/G ratio of 2.93 and a beta of 1.19. Intuit has a 12 month low of $166.51 and a 12 month high of $259.86.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is currently 41.50%.

In other news, EVP Henry Tayloe Stansbury sold 3,650 shares of the stock in a transaction on Friday, December 21st. The shares were sold at an average price of $188.94, for a total value of $689,631.00. Following the completion of the transaction, the executive vice president now owns 3,383 shares in the company, valued at approximately $639,184.02. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 67,488 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $251.43, for a total transaction of $16,968,507.84. Following the completion of the transaction, the executive vice president now owns 95,102 shares of the company’s stock, valued at approximately $23,911,495.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,259 shares of company stock valued at $23,447,484. Corporate insiders own 4.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Coastline Trust Co raised its stake in shares of Intuit by 6.7% in the 4th quarter. Coastline Trust Co now owns 3,180 shares of the software maker’s stock valued at $626,000 after buying an additional 200 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Intuit by 16.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 394 shares of the software maker’s stock worth $77,000 after purchasing an additional 56 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Intuit by 3.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 131,409 shares of the software maker’s stock worth $25,868,000 after purchasing an additional 4,038 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Intuit by 78.0% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 104,014 shares of the software maker’s stock worth $20,475,000 after purchasing an additional 45,583 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Intuit by 3.0% during the 3rd quarter. Legal & General Group Plc now owns 1,199,350 shares of the software maker’s stock worth $272,678,000 after purchasing an additional 34,739 shares in the last quarter. Institutional investors own 88.47% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

Further Reading: Bear Market – How and Why They Occur

Get a free copy of the Zacks research report on Intuit (INTU)

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.