Intuit Inc. (INTU) Releases Earnings Results, Beats Estimates By $0.03 EPS
Intuit Inc. (NASDAQ:INTU) posted its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The company earned $778 million during the quarter, compared to analysts’ expectations of $754.36 million. During the same quarter in the previous year, the firm earned $0.09 EPS. Intuit’s revenue was up 9.1% on a year-over-year basis. Intuit updated its Q2 guidance to $0.33-0.36 EPS and its FY17 guidance to $4.30-4.40 EPS.
Shares of Intuit (NASDAQ:INTU) opened at 113.80 on Friday. The stock has a 50 day moving average price of $108.44 and a 200 day moving average price of $109.00. Intuit has a 52 week low of $88.17 and a 52 week high of $116.97. The stock has a market capitalization of $29.35 billion, a P/E ratio of 30.82 and a beta of 1.08.
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 report on Wednesday, August 24th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $113.00 target price (up previously from $93.00) on shares of Intuit in a report on Monday, August 15th. Royal Bank Of Canada lowered their target price on Intuit from $113.00 to $93.00 and set a “sector perform” rating for the company in a report on Monday, August 15th. Wedbush reaffirmed an “outperform” rating and issued a $755.00 target price (up previously from $715.00) on shares of Intuit in a report on Sunday, July 24th. Finally, Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Intuit has an average rating of “Hold” and a consensus price target of $194.97.
In other Intuit news, CFO R Neil Williams sold 6,636 shares of Intuit stock in a transaction that occurred on 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 directly owns 4,727 shares of the company’s stock, valued at approximately $520,253.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $109.19, for a total value of $204,294.49. Following the sale, the executive vice president now directly owns 2,541 shares in the company, valued at $277,451.79. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of INTU. Johnson Financial Group Inc. boosted its stake in Intuit by 563.9% in the second quarter. Johnson Financial Group Inc. now owns 1,029 shares of the company’s stock valued at $115,000 after buying an additional 874 shares during the last quarter. Point72 Asia Hong Kong Ltd boosted 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. TLP Group LLC purchased a new stake in Intuit during the third quarter valued at $125,000. Global X Management Co. LLC boosted its stake in Intuit by 326.8% in the second quarter. Global X Management Co. LLC now owns 1,276 shares of the company’s stock valued at $142,000 after buying an additional 977 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in Intuit by 95.6% in the third quarter. Penserra Capital Management LLC now owns 1,379 shares of the company’s stock valued at $151,000 after buying an additional 674 shares during the last quarter. 84.72% of the stock is currently owned by institutional investors and hedge funds.
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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