Intuit Inc. (NASDAQ:INTU) Expected to Post Earnings of -$0.14 Per Share

Equities analysts predict that Intuit Inc. (NASDAQ:INTU) will announce earnings of ($0.14) per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Intuit’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.16). Intuit posted earnings per share of $0.32 in the same quarter last year, which indicates a negative year over year growth rate of 143.8%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, August 22nd.

On average, analysts expect that Intuit will report full-year earnings of $6.70 per share for the current fiscal year, with EPS estimates ranging from $6.67 to $6.78. For the next fiscal year, analysts forecast that the company will post earnings of $7.55 per share, with EPS estimates ranging from $7.31 to $7.92. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Intuit.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, beating the Zacks’ consensus estimate of $5.12 by $0.43. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.82 earnings per share.

A number of analysts recently weighed in on INTU shares. BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 9th. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating and set a $268.00 target price on the stock. in a research note on Wednesday, May 29th. Barclays upped their target price on shares of Intuit from $225.00 to $237.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Morgan Stanley upped their target price on shares of Intuit from $239.00 to $244.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Finally, Credit Suisse Group upped their target price on shares of Intuit from $260.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $254.15.

In other Intuit news, CFO Michelle M. Clatterbuck sold 10,628 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the sale, the chief financial officer now directly owns 10,628 shares in the company, valued at $2,723,637.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Scott D. Cook sold 29,517 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $261.67, for a total transaction of $7,723,713.39. The disclosure for this sale can be found here. Insiders sold 277,296 shares of company stock worth $72,342,898 over the last 90 days. 4.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of INTU. Nuveen Asset Management LLC raised its holdings in Intuit by 4,951.7% in the second quarter. Nuveen Asset Management LLC now owns 4,988,508 shares of the software maker’s stock worth $1,303,647,000 after purchasing an additional 4,889,759 shares during the period. Invesco Ltd. raised its holdings in Intuit by 96.3% in the second quarter. Invesco Ltd. now owns 6,001,471 shares of the software maker’s stock worth $1,568,367,000 after purchasing an additional 2,944,291 shares during the period. Janus Henderson Group PLC raised its holdings in Intuit by 28.7% in the second quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock worth $1,241,949,000 after purchasing an additional 1,060,033 shares during the period. FMR LLC raised its holdings in Intuit by 10.0% in the first quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock worth $2,671,557,000 after purchasing an additional 930,221 shares during the period. Finally, Ellis Investment Partners LLC raised its holdings in Intuit by 26,041.0% in the first quarter. Ellis Investment Partners LLC now owns 901,864 shares of the software maker’s stock worth $901,000 after purchasing an additional 898,414 shares during the period. Institutional investors own 88.48% of the company’s stock.

NASDAQ INTU traded up $2.52 on Thursday, reaching $270.96. The company’s stock had a trading volume of 1,044,200 shares, compared to its average volume of 1,194,202. The firm has a market cap of $69.59 billion, a PE ratio of 59.81, a price-to-earnings-growth ratio of 2.69 and a beta of 1.10. The business has a 50-day moving average price of $275.06 and a 200 day moving average price of $256.13. Intuit has a 52 week low of $182.61 and a 52 week high of $284.97. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.10.

About Intuit

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.

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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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