Intuit Inc. (INTU) Releases FY17 Earnings Guidance
Intuit Inc. (NASDAQ:INTU) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.30-4.40 for the period, compared to the Thomson Reuters consensus estimate of $4.33. The company issued revenue guidance of $5.0-5.1 billion, compared to the consensus revenue estimate of $5.05 billion.Intuit also updated its Q2 guidance to $0.33-0.36 EPS.
A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reiterated a hold rating and issued a $114.00 price target on shares of Intuit in a research report on Thursday. Canaccord Genuity reiterated a buy rating and issued a $750.00 price target on shares of Intuit in a research report on Friday, July 22nd. Zacks Investment Research lowered Intuit from a buy rating to a hold rating in a research report on Wednesday, July 27th. RBC Capital Markets reiterated a sector perform rating and issued a $113.00 price target (up previously from $93.00) on shares of Intuit in a research report on Monday, August 15th. Finally, Evercore ISI started coverage on Intuit in a research report on Wednesday. They set a hold rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Intuit presently has an average rating of Hold and an average target price of $194.97.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 113.80 on Friday. The stock has a market capitalization of $29.35 billion, a P/E ratio of 30.82 and a beta of 1.08. The company’s 50 day moving average price is $108.44 and its 200-day moving average price is $109.00. Intuit Inc. has a 12 month low of $88.17 and a 12 month high of $116.97.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 17th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The business had revenue of $778 million for the quarter, compared to analysts’ expectations of $754.36 million. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. Equities analysts predict that Intuit Inc. will post $4.34 earnings per share for the current year.
In other news, EVP Henry Tayloe Stansbury sold 11,503 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $111.47, for a total value of $1,282,239.41. Following the sale, the executive vice president now directly owns 670 shares of the company’s stock, valued at approximately $74,684.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO R Neil Williams sold 18,567 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $111.47, for a total value of $2,069,663.49. Following the completion of the sale, the chief financial officer now directly owns 4,727 shares in the company, valued at $526,918.69. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Intuit by 109.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,158,949 shares of the company’s stock worth $347,516,000 after buying an additional 1,651,255 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Intuit by 9.2% in the third quarter. Ameritas Investment Partners Inc. now owns 10,453 shares of the company’s stock worth $1,150,000 after buying an additional 879 shares in the last quarter. Eaton Vance Management boosted its stake in shares of Intuit by 59.8% in the third quarter. Eaton Vance Management now owns 88,124 shares of the company’s stock worth $9,695,000 after buying an additional 32,974 shares in the last quarter. Cetera Advisor Networks LLC boosted its stake in shares of Intuit by 16.0% in the third quarter. Cetera Advisor Networks LLC now owns 2,462 shares of the company’s stock worth $271,000 after buying an additional 340 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd boosted its stake in shares of Intuit by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock worth $123,000 after buying an additional 900 shares in the last quarter. 84.72% of the stock is currently owned by hedge funds and other institutional investors.
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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