$3.23 Billion in Sales Expected for Intuit Inc. (INTU) This Quarter

Wall Street brokerages expect Intuit Inc. (NASDAQ:INTU) to report sales of $3.23 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Intuit’s earnings, with the lowest sales estimate coming in at $3.21 billion and the highest estimate coming in at $3.24 billion. Intuit posted sales of $2.93 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.2%. The firm is expected to issue its next earnings results on Tuesday, May 28th.

According to Zacks, analysts expect that Intuit will report full-year sales of $6.64 billion for the current fiscal year, with estimates ranging from $6.60 billion to $6.70 billion. For the next year, analysts forecast that the business will post sales of $7.29 billion, with estimates ranging from $7.15 billion to $7.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Intuit.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.44. The company had revenue of $1.50 billion for 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 prior year, the company posted $0.35 EPS.



Several research firms recently weighed in on INTU. Bank of America reissued a “buy” rating and issued a $264.00 target price (up from $252.00) on shares of Intuit in a research note on Wednesday, March 6th. ValuEngine raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 28th. Zacks Investment Research cut shares of Intuit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Credit Suisse Group reissued a “hold” rating and issued a $255.00 target price on shares of Intuit in a research note on Thursday, February 21st. Finally, BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $230.11.

In other news, Director Dennis D. Powell sold 4,083 shares of Intuit stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $248.96, for a total transaction of $1,016,503.68. Following the completion of the sale, the director now owns 3,550 shares of the company’s stock, valued at $883,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Henry Tayloe Stansbury sold 3,650 shares of Intuit stock in a transaction on Friday, December 21st. The stock was sold at an average price of $188.94, for a total value of $689,631.00. Following the sale, the executive vice president now directly owns 3,383 shares of the company’s stock, valued at approximately $639,184.02. The disclosure for this sale can be found here. Insiders have sold a total of 94,259 shares of company stock valued at $23,447,484 in the last ninety days. Insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Athena Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth $28,000. We Are One Seven LLC bought a new position in shares of Intuit in the fourth quarter worth $33,000. Berman Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth $34,000. Moody National Bank Trust Division bought a new position in shares of Intuit in the fourth quarter worth $35,000. Finally, Karp Capital Management Corp bought a new position in shares of Intuit in the fourth quarter worth $38,000. 88.47% of the stock is owned by institutional investors.

NASDAQ INTU traded up $1.36 during trading hours on Friday, reaching $258.13. 3,463,001 shares of the company’s stock were exchanged, compared to its average volume of 1,561,254. The stock has a market cap of $64.85 billion, a price-to-earnings ratio of 56.98, a PEG ratio of 2.93 and a beta of 1.19. Intuit has a one year low of $166.51 and a one year high of $259.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32.

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

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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