Intuit (NASDAQ:INTU) Updates FY 2022 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $11.050-$11.250 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $10.830. The company issued revenue guidance of $11.05 billion-$11.20 billion, compared to the consensus revenue estimate of $10.94 billion.Intuit also updated its Q1 2022 guidance to $0.940-$0.990 EPS.

INTU stock traded down $0.33 during trading on Wednesday, reaching $567.94. 3,576 shares of the stock were exchanged, compared to its average volume of 1,246,041. The firm’s 50 day moving average is $536.66 and its 200 day moving average is $463.54. Intuit has a twelve month low of $295.37 and a twelve month high of $582.96. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.21. The firm has a market cap of $155.10 billion, a P/E ratio of 75.68, a price-to-earnings-growth ratio of 4.82 and a beta of 1.03.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Monday, August 23rd. The software maker reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.38. Intuit had a return on equity of 24.31% and a net margin of 21.41%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the business earned $1.81 EPS. The firm’s revenue for the quarter was up 41.0% on a year-over-year basis. As a group, analysts predict that Intuit will post 7.98 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 18th. Shareholders of record on Monday, October 11th will be issued a dividend of $0.68 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.59. This represents a $2.72 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, October 8th. Intuit’s payout ratio is currently 31.22%.

A number of brokerages have commented on INTU. Bank of America boosted their price objective on Intuit from $520.00 to $640.00 and gave the stock a buy rating in a report on Wednesday, August 25th. Royal Bank of Canada boosted their price objective on Intuit from $490.00 to $525.00 and gave the stock an outperform rating in a report on Wednesday, May 26th. Piper Sandler boosted their price objective on Intuit from $498.00 to $621.00 and gave the stock an overweight rating in a report on Wednesday, August 25th. Mizuho boosted their price objective on Intuit from $550.00 to $640.00 and gave the stock a buy rating in a report on Wednesday, August 25th. Finally, KeyCorp upped their target price on Intuit from $475.00 to $625.00 and gave the company an overweight rating in a report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $544.55.

In related news, CFO Michelle M. Clatterbuck sold 1,652 shares of the stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $549.26, for a total value of $907,377.52. Following the sale, the chief financial officer now owns 546 shares in the company, valued at $299,895.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark J. Flournoy sold 665 shares of the stock in a transaction on Thursday, June 17th. The stock was sold at an average price of $475.27, for a total value of $316,054.55. Following the completion of the sale, the chief accounting officer now owns 1,520 shares in the company, valued at approximately $722,410.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,112 shares of company stock valued at $34,124,588. 3.38% of the stock is owned by corporate insiders.

About Intuit

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. 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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