$6.82 Earnings Per Share Expected for Intuit Inc. (NASDAQ:INTU) This Quarter


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Wall Street brokerages expect Intuit Inc. (NASDAQ:INTU) to post earnings of $6.82 per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Intuit’s earnings, with the lowest EPS estimate coming in at $6.77 and the highest estimate coming in at $6.85. Intuit posted earnings per share of $4.49 during the same quarter last year, which would indicate a positive year-over-year growth rate of 51.9%. The company is expected to announce its next earnings report on Thursday, May 20th.

According to Zacks, analysts expect that Intuit will report full year earnings of $8.36 per share for the current fiscal year, with EPS estimates ranging from $8.30 to $8.42. For the next financial year, analysts expect that the business will post earnings of $9.82 per share, with EPS estimates ranging from $9.30 to $10.53. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Intuit.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, February 23rd. The software maker reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.55. Intuit had a net margin of 25.10% and a return on equity of 40.29%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis.

Several research analysts have recently commented on the company. Morgan Stanley reaffirmed a “buy” rating and issued a $470.00 price objective on shares of Intuit in a research note on Tuesday. UBS Group lifted their price target on shares of Intuit from $375.00 to $407.00 and gave the company a “neutral” rating in a report on Tuesday, March 2nd. Piper Sandler increased their price objective on shares of Intuit from $458.00 to $470.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 3rd. Evercore ISI upgraded shares of Intuit from an “in-line” rating to an “outperform” rating and set a $500.00 price objective on the stock in a research report on Monday, March 1st. Finally, Smith Barney Citigroup increased their price target on Intuit from $378.00 to $383.00 in a research note on Tuesday, December 22nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $426.05.

In related news, EVP James Alexander Chriss sold 364 shares of Intuit stock in a transaction dated Thursday, February 25th. The stock was sold at an average price of $407.38, for a total value of $148,286.32. Following the completion of the transaction, the executive vice president now owns 221 shares in the company, valued at $90,030.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michelle M. Clatterbuck sold 2,253 shares of the business’s stock in a transaction that occurred on Tuesday, March 2nd. The stock was sold at an average price of $403.51, for a total value of $909,108.03. Following the sale, the chief financial officer now directly owns 4,293 shares in the company, valued at $1,732,268.43. The disclosure for this sale can be found here. Insiders own 3.38% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Wealth Alliance lifted its holdings in shares of Intuit by 10.6% in the 3rd quarter. Wealth Alliance now owns 1,103 shares of the software maker’s stock worth $360,000 after acquiring an additional 106 shares during the last quarter. Lombard Odier Asset Management Switzerland SA bought a new stake in Intuit in the third quarter worth about $1,065,000. Chartwell Investment Partners LLC boosted its position in shares of Intuit by 14.8% during the third quarter. Chartwell Investment Partners LLC now owns 20,303 shares of the software maker’s stock valued at $6,623,000 after buying an additional 2,617 shares during the period. Kiwi Wealth Investments Limited Partnership bought a new position in shares of Intuit during the third quarter valued at approximately $2,426,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Intuit during the 3rd quarter worth approximately $51,703,000. Institutional investors own 84.79% of the company’s stock.

Shares of NASDAQ:INTU traded up $10.14 during midday trading on Thursday, hitting $411.19. The company had a trading volume of 88,001 shares, compared to its average volume of 1,464,663. The company has a fifty day moving average of $391.35 and a two-hundred day moving average of $365.48. Intuit has a 12-month low of $240.38 and a 12-month high of $423.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.09 and a quick ratio of 3.09. The company has a market cap of $112.60 billion, a price-to-earnings ratio of 55.17, a PEG ratio of 4.29 and a beta of 0.99.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 19th. Investors of record on Monday, April 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 35.98%.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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