Intuit (NASDAQ:INTU) Issues Q3 2021 Earnings Guidance

Intuit (NASDAQ:INTU) updated its third quarter 2021 earnings guidance on Tuesday. The company provided EPS guidance of $6.000-6.050 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.730. The company issued revenue guidance of $4.17 billion-4.17 billion, compared to the consensus revenue estimate of $4.59 billion.Intuit also updated its FY 2021 guidance to $9.320-9.370 EPS.

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Intuit from $470.00 to $511.00 and gave the stock an overweight rating in a report on Wednesday, May 26th. Exane BNP Paribas upgraded Intuit from an underperform rating to a neutral rating in a report on Thursday, May 27th. KeyCorp increased their price target on Intuit from $450.00 to $475.00 and gave the stock an overweight rating in a report on Wednesday, May 26th. Piper Sandler raised their price objective on Intuit from $470.00 to $498.00 and gave the stock an overweight rating in a report on Wednesday, May 26th. Finally, Evercore ISI upgraded Intuit from an in-line rating to an outperform rating and set a $500.00 price objective on the stock in a report on Tuesday, February 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $465.71.

Shares of Intuit stock traded up $1.66 during trading on Friday, reaching $472.99. The company’s stock had a trading volume of 2,709 shares, compared to its average volume of 1,350,777. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market capitalization of $129.25 billion, a P/E ratio of 60.43, a price-to-earnings-growth ratio of 4.25 and a beta of 1.00. Intuit has a 1-year low of $274.19 and a 1-year high of $473.71. The company has a 50-day moving average price of $420.95.

Intuit (NASDAQ:INTU) last issued its earnings results on Monday, May 24th. The software maker reported $6.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $6.19 by ($0.12). The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Intuit had a return on equity of 28.76% and a net margin of 23.93%. The business’s revenue was up 39.0% on a year-over-year basis. During the same quarter last year, the business earned $4.49 EPS. As a group, equities analysts predict that Intuit will post 7.26 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 19th. Investors of record on Monday, July 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, July 9th. This represents a $2.36 dividend on an annualized basis and a yield of 0.50%. Intuit’s dividend payout ratio (DPR) is 35.98%.

In other Intuit news, Chairman Brad D. Smith sold 163,061 shares of Intuit stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $431.50, for a total transaction of $70,360,821.50. Following the completion of the transaction, the chairman now owns 517,568 shares in the company, valued at approximately $223,330,592. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michelle M. Clatterbuck sold 414 shares of Intuit stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $436.21, for a total value of $180,590.94. Following the transaction, the chief financial officer now owns 546 shares of the company’s stock, valued at approximately $238,170.66. The disclosure for this sale can be found here. Insiders sold a total of 168,912 shares of company stock valued at $72,890,386 in the last 90 days. 3.38% of the stock is currently owned by company insiders.

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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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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