Intuit Inc. (NASDAQ:INTU) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.01-0.03 for the period, compared to the Thomson Reuters consensus estimate of $0.03. The company issued revenue guidance of $740-760 million, compared to the consensus revenue estimate of $754.56 million.Intuit also updated its FY17 guidance to $4.30-4.40 EPS.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 110.76 on Friday. The stock has a 50 day moving average price of $111.08 and a 200-day moving average price of $107.22. The stock has a market capitalization of $28.57 billion, a PE ratio of 29.99 and a beta of 1.05. Intuit Inc. has a 1-year low of $85.61 and a 1-year high of $116.97.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.10. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The firm earned $754 million during the quarter, compared to analyst estimates of $735.35 million. During the same period last year, the company earned ($0.05) EPS. Intuit’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast that Intuit Inc. will post $4.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be paid a dividend of $0.34 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, October 5th. Intuit’s dividend payout ratio (DPR) is currently 31.91%.
INTU has been the subject of a number of research analyst reports. Citigroup Inc. reissued a buy rating and set a $128.00 price target on shares of Intuit in a research note on Wednesday, August 24th. Morgan Stanley lowered Intuit from an equal weight rating to an underweight rating and decreased their price target for the stock from $109.54 to $105.00 in a research note on Tuesday, September 13th. Oppenheimer Holdings Inc. raised their price target on Intuit from $113.00 to $116.00 and gave the stock an outperform rating in a research note on Thursday, August 25th. Goldman Sachs Group Inc. raised their price target on Intuit from $123.00 to $124.00 and gave the stock a buy rating in a research note on Wednesday, August 24th. Finally, Wedbush reissued an outperform rating and set a $755.00 price target (up from $715.00) on shares of Intuit in a research note on Sunday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $194.34.
In other Intuit news, CFO R Neil Williams sold 6,636 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $110.06, for a total transaction of $730,358.16. Following the sale, the chief financial officer now owns 4,727 shares in the company, valued at approximately $520,253.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $110.00, for a total value of $808,500.00. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of INTU. Point72 Asia Hong Kong Ltd increased its stake in Intuit by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock valued at $123,000 after buying an additional 900 shares during the last quarter. AHL Partners LLP boosted its position in shares of Intuit by 222.9% in the second quarter. AHL Partners LLP now owns 24,038 shares of the company’s stock valued at $2,683,000 after buying an additional 16,593 shares during the period. Highbridge Capital Management LLC bought a new position in shares of Intuit during the second quarter valued at about $5,515,000. Carlson Capital L P boosted its position in shares of Intuit by 8.5% in the second quarter. Carlson Capital L P now owns 112,825 shares of the company’s stock valued at $12,592,000 after buying an additional 8,825 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of Intuit by 21.0% in the second quarter. Guggenheim Capital LLC now owns 420,631 shares of the company’s stock valued at $46,946,000 after buying an additional 72,996 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.
Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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