$1.12 Billion in Sales Expected for Intuit Inc. (NASDAQ:INTU) This Quarter
Wall Street brokerages expect Intuit Inc. (NASDAQ:INTU) to report sales of $1.12 billion for the current quarter, according to Zacks. Seven analysts have made estimates for Intuit’s earnings. The highest sales estimate is $1.15 billion and the lowest is $1.11 billion. Intuit posted sales of $1.02 billion during the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The company is expected to announce its next quarterly earnings results on Monday, November 18th.
On average, analysts expect that Intuit will report full-year sales of $7.50 billion for the current financial year, with estimates ranging from $7.48 billion to $7.53 billion. For the next financial year, analysts forecast that the company will report sales of $8.26 billion, with estimates ranging from $8.15 billion to $8.35 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Intuit.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.37. The company had revenue of $994.00 million for the quarter, compared to analysts’ expectations of $964.02 million. Intuit had a net margin of 22.95% and a return on equity of 43.86%. Intuit’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share.
INTU stock traded down $1.43 on Friday, hitting $266.13. 1,282,300 shares of the company’s stock were exchanged, compared to its average volume of 1,435,013. Intuit has a 12-month low of $182.61 and a 12-month high of $295.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market cap of $71.75 billion, a P/E ratio of 47.69, a price-to-earnings-growth ratio of 2.69 and a beta of 1.10. The firm has a 50 day moving average price of $278.51 and a two-hundred day moving average price of $262.64.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.80%. This is an increase from Intuit’s previous quarterly dividend of $0.47. Intuit’s payout ratio is currently 33.69%.
In other Intuit news, CAO Mark J. Flournoy sold 6,854 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $286.33, for a total transaction of $1,962,505.82. Following the completion of the transaction, the chief accounting officer now directly owns 4,541 shares in the company, valued at approximately $1,300,224.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Scott D. Cook sold 133,334 shares of Intuit stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $262.87, for a total transaction of $35,049,508.58. The disclosure for this sale can be found here. Insiders have sold 303,422 shares of company stock worth $82,506,746 over the last 90 days. 4.60% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Private Ocean LLC acquired a new stake in Intuit in the 1st quarter valued at $28,000. Manchester Financial Inc. purchased a new stake in shares of Intuit during the second quarter worth about $30,000. FNY Investment Advisers LLC purchased a new position in Intuit in the second quarter valued at about $30,000. Thor Advisors LLC purchased a new position in Intuit in the first quarter valued at about $33,000. Finally, NewSquare Capital LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 88.16% of the company’s stock.
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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