Intuit (NASDAQ:INTU) Updates FY 2022 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $11.480-$11.640 for the period, compared to the Thomson Reuters consensus estimate of $11.230. The company issued revenue guidance of $11.37 billion-$11.56 billion, compared to the consensus revenue estimate of $11.16 billion.Intuit also updated its Q2 2022 guidance to $1.840-$1.880 EPS.

INTU traded up $13.37 during midday trading on Thursday, hitting $684.00. 1,714,612 shares of the company were exchanged, compared to its average volume of 1,249,703. The company’s 50 day simple moving average is $587.88 and its 200 day simple moving average is $530.92. The firm has a market capitalization of $193.69 billion, a price-to-earnings ratio of 90.48, a price-to-earnings-growth ratio of 5.86 and a beta of 1.07. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.21. Intuit has a 1-year low of $345.01 and a 1-year high of $716.86.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 18th. The software maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.56. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.81 billion. Intuit had a return on equity of 22.39% and a net margin of 20.28%. The firm’s revenue for the quarter was up 51.7% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, equities analysts anticipate that Intuit will post 7.98 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 10th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, January 7th. Intuit’s dividend payout ratio is currently 35.98%.

Several equities research analysts have weighed in on INTU shares. Wells Fargo & Company increased their price target on Intuit from $625.00 to $710.00 and gave the stock an overweight rating in a research report on Wednesday, November 17th. Piper Sandler raised their target price on Intuit from $621.00 to $770.00 and gave the company an overweight rating in a research report on Friday, November 19th. Zacks Investment Research upgraded Intuit from a strong sell rating to a hold rating and set a $633.00 target price on the stock in a research report on Tuesday, October 26th. Deutsche Bank Aktiengesellschaft raised their target price on Intuit from $700.00 to $780.00 and gave the company a buy rating in a research report on Friday, November 19th. Finally, Stifel Nicolaus raised their target price on Intuit from $625.00 to $725.00 and gave the company a buy rating in a research report on Friday, November 19th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $644.35.

In other news, EVP James Alexander Chriss sold 2,022 shares of Intuit stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $562.53, for a total transaction of $1,137,435.66. Following the sale, the executive vice president now owns 3,234 shares of the company’s stock, valued at approximately $1,819,222.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michelle M. Clatterbuck sold 620 shares of Intuit stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $691.96, for a total transaction of $429,015.20. The disclosure for this sale can be found here. Insiders sold a total of 80,191 shares of company stock worth $49,736,475 over the last three months. Corporate insiders own 3.38% of the company’s stock.

Intuit Company Profile

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; Credit Karma; and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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