Intuit (NASDAQ:INTU) Issues Q4 2024 Earnings Guidance

Intuit (NASDAQ:INTU) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 1.800-1.850 for the period, compared to the consensus earnings per share estimate of 1.930. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.0 billion. Intuit also updated its FY 2024 guidance to 16.790-16.840 EPS.

Intuit Trading Down 1.8 %

Shares of NASDAQ INTU opened at $596.25 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. Intuit has a 52-week low of $400.22 and a 52-week high of $676.62. The firm has a 50 day moving average price of $634.12 and a two-hundred day moving average price of $622.77. The stock has a market cap of $166.68 billion, a P/E ratio of 56.00, a price-to-earnings-growth ratio of 3.70 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $7.80 earnings per share. As a group, equities analysts forecast that Intuit will post 11.28 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.60%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. KeyCorp raised their price target on shares of Intuit from $720.00 to $740.00 and gave the stock an overweight rating in a report on Monday, May 20th. Wells Fargo & Company lifted their target price on shares of Intuit from $725.00 to $750.00 and gave the stock an overweight rating in a research note on Tuesday, May 21st. Evercore ISI boosted their target price on shares of Intuit from $670.00 to $725.00 and gave the company an outperform rating in a report on Friday, February 23rd. Mizuho increased their price target on Intuit from $670.00 to $725.00 and gave the stock a buy rating in a report on Friday, February 23rd. Finally, Bank of America dropped their price objective on Intuit from $760.00 to $730.00 and set a buy rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Intuit presently has an average rating of Moderate Buy and an average price target of $679.41.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by company insiders.

About Intuit

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.