Intuit (INTU) to Release Quarterly Earnings on Thursday

Intuit (NASDAQ:INTU) is scheduled to be announcing its earnings results after the market closes on Thursday, November 21st. Analysts expect the company to announce earnings of $2.36 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue was up 17.4% compared to the same quarter last year. On average, analysts expect Intuit to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Intuit Trading Down 1.3 %

Shares of Intuit stock opened at $678.81 on Tuesday. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market cap of $190.26 billion, a P/E ratio of 64.96, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $634.11 and its 200-day moving average is $630.65.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTU. BMO Capital Markets upped their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $737.06.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This represents a 99.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by corporate insiders.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.