Intuit Inc. (INTU) Announces Earnings Results, Beats Estimates By $0.04 EPS
Intuit Inc. (NASDAQ:INTU) announced its quarterly earnings results on Monday. The software maker reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04, Bloomberg Earnings reports. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $886.00 million for the quarter, compared to analyst estimates of $855.74 million. During the same quarter in the prior year, the business earned $0.06 EPS. Intuit’s quarterly revenue was up 13.9% on a year-over-year basis. Intuit updated its Q2 guidance to $0.31-0.34 EPS and its FY18 guidance to $4.90-5.00 EPS.
Shares of Intuit (NASDAQ INTU) traded up $1.23 during trading hours on Monday, reaching $157.78. 1,869,499 shares of the company traded hands, compared to its average volume of 1,475,803. The company has a market cap of $40,180.00, a P/E ratio of 41.53, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 0.73. Intuit has a fifty-two week low of $111.48 and a fifty-two week high of $158.90.
In other news, CFO R Neil Williams sold 184,585 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $141.11, for a total transaction of $26,046,789.35. Following the completion of the transaction, the chief financial officer now owns 64,620 shares of the company’s stock, valued at $9,118,528.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Scott D. Cook sold 182,037 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $135.20, for a total transaction of $24,611,402.40. The disclosure for this sale can be found here. In the last three months, insiders sold 1,084,194 shares of company stock valued at $151,162,540. 5.70% of the stock is owned by insiders.
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INTU has been the topic of a number of analyst reports. Jefferies Group LLC initiated coverage on shares of Intuit in a research report on Thursday, August 24th. They set a “buy” rating and a $157.00 target price on the stock. UBS AG initiated coverage on shares of Intuit in a research report on Thursday, November 9th. They set a “neutral” rating and a $152.00 target price on the stock. Oppenheimer Holdings, Inc. increased their target price on shares of Intuit from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Bank of America Corporation restated a “buy” rating and set a $145.00 target price on shares of Intuit in a research report on Wednesday, August 23rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $155.00 target price (up previously from $150.00) on shares of Intuit in a research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $149.00.
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.
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