Brokerages Anticipate Intuit Inc. (INTU) Will Post Quarterly Sales of $3.24 Billion

Wall Street brokerages forecast that Intuit Inc. (NASDAQ:INTU) will report sales of $3.24 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Intuit’s earnings, with estimates ranging from $3.21 billion to $3.32 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 10.6%. The firm is expected to issue its next quarterly earnings report on Tuesday, May 28th.

According to Zacks, analysts expect that Intuit will report full-year sales of $6.66 billion for the current year, with estimates ranging from $6.60 billion to $6.80 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.32 billion, with estimates ranging from $7.15 billion to $7.56 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Intuit.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 21st. The software maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.56 by $0.44. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Intuit had a return on equity of 53.70% and a net margin of 22.89%. During the same quarter in the prior year, the firm posted $0.35 EPS.

A number of equities research analysts recently weighed in on INTU shares. JPMorgan Chase & Co. cut Intuit from a “neutral” rating to an “underweight” rating and set a $205.00 price target on the stock. in a research note on Thursday, December 13th. KeyCorp started coverage on Intuit in a research note on Tuesday, December 18th. They issued an “overweight” rating and a $250.00 price target on the stock. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a research note on Monday, January 21st. Credit Suisse Group restated an “outperform” rating and issued a $255.00 price target (up previously from $250.00) on shares of Intuit in a research note on Tuesday, January 22nd. Finally, Goldman Sachs Group restated a “neutral” rating and issued a $212.00 price target on shares of Intuit in a research note on Friday, February 1st. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Intuit currently has an average rating of “Buy” and an average price target of $235.71.

In other news, VP Mark J. Flournoy sold 5,939 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $251.18, for a total transaction of $1,491,758.02. Following the sale, the vice president now directly owns 3,626 shares of the company’s stock, valued at approximately $910,778.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dennis D. Powell sold 4,083 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $248.96, for a total value of $1,016,503.68. Following the sale, the director now directly owns 3,550 shares in the company, valued at $883,808. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,609 shares of company stock worth $22,757,853. 4.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in INTU. Oregon Public Employees Retirement Fund boosted its stake in Intuit by 17,362.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,327,715 shares of the software maker’s stock valued at $103,000 after buying an additional 20,211,306 shares in the last quarter. Capital International Investors acquired a new stake in Intuit in the third quarter valued at about $1,273,455,000. Bank of New York Mellon Corp boosted its stake in Intuit by 46,373.2% in the third quarter. Bank of New York Mellon Corp now owns 2,858,100 shares of the software maker’s stock valued at $649,932,000 after buying an additional 2,851,950 shares in the last quarter. Norges Bank acquired a new stake in Intuit in the fourth quarter valued at about $422,227,000. Finally, BlackRock Inc. boosted its stake in Intuit by 7.8% in the fourth quarter. BlackRock Inc. now owns 20,251,688 shares of the software maker’s stock valued at $3,986,545,000 after buying an additional 1,457,880 shares in the last quarter. 87.69% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ INTU opened at $269.93 on Monday. The company has a market capitalization of $69.71 billion, a PE ratio of 59.59, a P/E/G ratio of 3.14 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.32 and a quick ratio of 1.32. Intuit has a 12 month low of $166.51 and a 12 month high of $272.14.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders 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 dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is currently 41.50%.

Intuit Company Profile

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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