Equities research analysts predict that Intuit Inc. (NASDAQ:INTU) will post $961.37 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Intuit’s earnings, with estimates ranging from $956.21 million to $968.31 million. Intuit posted sales of $988.00 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.7%. The business is expected to issue its next earnings results on Thursday, August 22nd.

According to Zacks, analysts expect that Intuit will report full-year sales of $6.75 billion for the current financial year, with estimates ranging from $6.75 billion to $6.76 billion. For the next fiscal year, analysts expect that the business will post sales of $7.42 billion, with estimates ranging from $7.33 billion to $7.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Intuit.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.43. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.82 earnings per share.

Several equities analysts recently weighed in on INTU shares. Royal Bank of Canada raised their price objective on shares of Intuit from $274.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. BNP Paribas initiated coverage on Intuit in a report on Friday, March 29th. They set an “underperform” rating and a $200.00 price target on the stock. Jefferies Financial Group increased their price target on Intuit from $272.00 to $300.00 and gave the company a “buy” rating in a report on Friday, May 24th. Oppenheimer increased their price target on Intuit from $254.00 to $269.00 and gave the company an “outperform” rating in a report on Wednesday, March 27th. Finally, Morgan Stanley increased their price target on Intuit from $239.00 to $244.00 and gave the company an “equal weight” rating in a report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $252.55.

INTU traded down $0.38 during midday trading on Friday, hitting $256.35. 9,784 shares of the company’s stock traded hands, compared to its average volume of 1,523,374. The firm has a market cap of $66.75 billion, a PE ratio of 56.58, a PEG ratio of 2.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.85 and a current ratio of 1.85. Intuit has a one year low of $182.61 and a one year high of $272.14.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.73%. Intuit’s payout ratio is 41.50%.

In other news, Chairman Scott D. Cook sold 29,517 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $261.67, for a total value of $7,723,713.39. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the completion of the sale, the chief financial officer now owns 10,628 shares in the company, valued at approximately $2,723,637.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,962 shares of company stock worth $37,293,389. 4.60% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. lifted its position in Intuit by 4.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,028 shares of the software maker’s stock worth $596,000 after purchasing an additional 132 shares during the period. Strs Ohio lifted its position in Intuit by 0.5% in the first quarter. Strs Ohio now owns 379,414 shares of the software maker’s stock worth $99,182,000 after purchasing an additional 1,790 shares during the period. Lyell Wealth Management LP lifted its position in Intuit by 2.6% in the first quarter. Lyell Wealth Management LP now owns 23,215 shares of the software maker’s stock worth $6,069,000 after purchasing an additional 587 shares during the period. Barbara Oil Co. bought a new position in Intuit in the first quarter worth $209,000. Finally, Cooper Haims Advisors LLC bought a new position in Intuit in the first quarter worth $2,118,000. Institutional investors and hedge funds own 87.97% of the company’s stock.

Intuit Company Profile

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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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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