Intuit (NASDAQ:INTU) Releases FY 2022 Earnings Guidance

Intuit (NASDAQ:INTU) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $11.480-$11.640 for the period, compared to the Thomson Reuters consensus EPS estimate of $11.230. The company issued revenue guidance of $11.37 billion-$11.56 billion, compared to the consensus revenue estimate of $11.16 billion.Intuit also updated its Q2 2022 guidance to $1.840-$1.880 EPS.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Intuit from a strong sell rating to a hold rating and set a $633.00 price target on the stock in a research note on Tuesday, October 26th. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $530.00 to $630.00 and gave the stock an overweight rating in a research note on Wednesday, August 25th. The Goldman Sachs Group upgraded shares of Intuit from a neutral rating to a buy rating and boosted their price target for the stock from $535.00 to $840.00 in a research note on Friday, November 19th. Edward Jones assumed coverage on shares of Intuit in a research note on Thursday, August 26th. They set a hold rating on the stock. Finally, Stifel Nicolaus boosted their price target on shares of Intuit from $625.00 to $725.00 and gave the stock a buy rating in a research note on Friday, November 19th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $644.35.

Shares of INTU stock traded up $13.37 during trading hours on Thursday, hitting $684.00. The company’s stock had a trading volume of 1,714,612 shares, compared to its average volume of 1,249,703. The business has a fifty day moving average of $587.88 and a 200-day moving average of $530.92. The stock has a market cap of $193.69 billion, a price-to-earnings ratio of 90.48, a P/E/G ratio of 5.86 and a beta of 1.07. Intuit has a twelve month low of $345.01 and a twelve month high of $716.86. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 18th. The software maker reported $1.53 EPS for the quarter, beating the consensus estimate of $0.97 by $0.56. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.81 billion. Intuit had a net margin of 20.28% and a return on equity of 22.39%. The company’s quarterly revenue was up 51.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 earnings per share. On average, equities analysts expect that Intuit will post 7.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Stockholders of record on Monday, January 10th will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, January 7th. This represents a $2.72 annualized dividend and a dividend yield of 0.40%. Intuit’s dividend payout ratio is presently 35.98%.

In related news, CEO Sasan K. Goodarzi sold 35,994 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $685.96, for a total transaction of $24,690,444.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James Alexander Chriss sold 31,487 shares of the company’s stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $564.57, for a total transaction of $17,776,615.59. Following the transaction, the executive vice president now directly owns 3,234 shares in the company, valued at approximately $1,825,819.38. The disclosure for this sale can be found here. Insiders sold 80,191 shares of company stock worth $49,736,475 over the last quarter. Company insiders own 3.38% of the company’s stock.

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; Credit Karma; and ProConnect. 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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