Intuit (NASDAQ:INTU) Issues Q3 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.00-6.05 for the period, compared to the Thomson Reuters consensus estimate of $6.82. The company issued revenue guidance of $4.165-4.170 billion, compared to the consensus revenue estimate of $4.62 billion.Intuit also updated its Q3 2021 guidance to 6.000-6.050 EPS.

INTU traded up $4.34 during trading on Wednesday, hitting $399.33. 44,318 shares of the stock were exchanged, compared to its average volume of 1,336,118. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.39. Intuit has a 1-year low of $270.91 and a 1-year high of $423.74. The firm has a market capitalization of $109.35 billion, a P/E ratio of 53.79, a PEG ratio of 4.29 and a beta of 0.99. The stock has a fifty day moving average price of $401.99 and a two-hundred day moving average price of $379.34.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, February 23rd. The software maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.55. Intuit had a return on equity of 40.29% and a net margin of 25.10%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. Analysts predict that Intuit will post 5.87 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 19th. Investors of record on Monday, April 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 0.59%. Intuit’s dividend payout ratio is 35.98%.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Intuit from a strong sell rating to a hold rating and set a $418.00 target price on the stock in a research report on Monday, March 1st. Mizuho upped their target price on shares of Intuit from $430.00 to $450.00 and gave the company a buy rating in a research report on Tuesday, March 2nd. Bank of America reiterated a buy rating and set a $460.00 target price on shares of Intuit in a research report on Wednesday, April 14th. Wolfe Research began coverage on shares of Intuit in a research report on Wednesday, April 28th. They set an outperform rating and a $475.00 target price for the company. Finally, Credit Suisse Group reissued an outperform rating and issued a $460.00 price target on shares of Intuit in a report on Monday, March 22nd. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $434.91.

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