Intuit Inc. (NASDAQ:INTU) Expected to Announce Quarterly Sales of $961.37 Million

Wall Street brokerages expect Intuit Inc. (NASDAQ:INTU) to announce $961.37 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Intuit’s earnings, with the highest sales estimate coming in at $968.31 million and the lowest estimate coming in at $956.21 million. Intuit posted sales of $988.00 million in the same quarter last year, which suggests a negative year over year growth rate of 2.7%. The firm is expected to report its next quarterly earnings report on Thursday, August 22nd.

On average, analysts expect that Intuit will report full year sales of $6.75 billion for the current financial year, with estimates ranging from $6.75 billion to $6.76 billion. For the next financial year, analysts expect that the business will report sales of $7.42 billion, with estimates ranging from $7.33 billion to $7.52 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Intuit.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.12 by $0.43. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $4.82 earnings per share.

Several equities research analysts recently commented on INTU shares. Guggenheim boosted their price objective on shares of Intuit from $260.00 to $310.00 in a research report on Thursday, April 11th. BidaskClub cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 9th. Bank of America restated a “buy” rating and issued a $264.00 price target (up from $252.00) on shares of Intuit in a report on Wednesday, March 6th. Deutsche Bank raised their price target on shares of Intuit from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, ValuEngine cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $252.55.

INTU traded down $3.06 during trading on Friday, hitting $254.13. The company had a trading volume of 1,172,494 shares, compared to its average volume of 1,516,742. The stock has a market capitalization of $66.67 billion, a P/E ratio of 56.10, a P/E/G ratio of 2.92 and a beta of 1.10. Intuit has a one year low of $182.61 and a one year high of $272.14. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.10.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Tuesday, July 9th. Intuit’s dividend payout ratio is presently 41.50%.

In other news, Chairman Scott D. Cook sold 29,517 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $261.67, for a total value of $7,723,713.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Scott D. Cook sold 103,817 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $258.59, for a total transaction of $26,846,038.03. The disclosure for this sale can be found here. Insiders sold a total of 143,962 shares of company stock worth $37,293,389 over the last ninety days. Insiders own 4.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc lifted its stake in shares of Intuit by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 18,997,220 shares of the software maker’s stock valued at $4,319,968,000 after purchasing an additional 704,771 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Intuit by 2.6% during the fourth quarter. D.A. Davidson & CO. now owns 2,319 shares of the software maker’s stock valued at $456,000 after purchasing an additional 58 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Intuit by 2.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 30,725 shares of the software maker’s stock valued at $6,048,000 after purchasing an additional 645 shares during the last quarter. ETF Managers Group LLC grew its holdings in shares of Intuit by 17.0% during the fourth quarter. ETF Managers Group LLC now owns 750 shares of the software maker’s stock valued at $148,000 after purchasing an additional 109 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. grew its holdings in shares of Intuit by 10.9% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 1,217 shares of the software maker’s stock valued at $239,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 87.97% of the company’s stock.

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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