$1.16 Billion in Sales Expected for Intuit Inc. (INTU) This Quarter
Wall Street analysts predict that Intuit Inc. (NASDAQ:INTU) will report sales of $1.16 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Intuit’s earnings. Intuit reported sales of $1.02 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 13.7%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that Intuit will report full year sales of $1.16 billion for the current year, with estimates ranging from $5.69 billion to $5.74 billion. For the next year, analysts anticipate that the company will report sales of $6.24 billion per share, with estimates ranging from $6.09 billion to $6.33 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Intuit.
INTU has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Intuit to $170.00 in a report on Tuesday, November 21st. Oppenheimer reaffirmed a “buy” rating and set a $166.00 price objective (up from $159.00) on shares of Intuit in a report on Tuesday, November 21st. Jefferies Group reaffirmed a “buy” rating and set a $185.00 price objective on shares of Intuit in a report on Tuesday, November 21st. Deutsche Bank reaffirmed a “buy” rating and set a $180.00 price objective on shares of Intuit in a report on Tuesday, January 9th. Finally, Bank of America increased their price objective on shares of Intuit from $172.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $161.53.
Several large investors have recently bought and sold shares of INTU. State Board of Administration of Florida Retirement System raised its stake in Intuit by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock worth $53,363,000 after purchasing an additional 1,870 shares during the period. Bank of Montreal Can raised its stake in Intuit by 71.7% during the fourth quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock worth $74,412,000 after purchasing an additional 196,911 shares during the period. Boston Advisors LLC raised its stake in Intuit by 1,337.2% during the fourth quarter. Boston Advisors LLC now owns 130,301 shares of the software maker’s stock worth $20,559,000 after purchasing an additional 121,235 shares during the period. IFM Investors Pty Ltd purchased a new position in Intuit during the third quarter worth about $959,000. Finally, Sit Investment Associates Inc. raised its stake in Intuit by 4.4% during the fourth quarter. Sit Investment Associates Inc. now owns 85,850 shares of the software maker’s stock worth $13,545,000 after purchasing an additional 3,650 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
Intuit (NASDAQ:INTU) opened at $173.32 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.35. The stock has a market cap of $44,310.00, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. Intuit has a twelve month low of $114.80 and a twelve month high of $176.26.
TRADEMARK VIOLATION NOTICE: This news story was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://theolympiareport.com/2018/02/22/1-16-billion-in-sales-expected-for-intuit-inc-intu-this-quarter.html.
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 ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.